Topaz Energy (TSE:TPZ) Trading 0.7% Higher - Here's What Happened

Topaz Energy Corp. (TSE:TPZ - Get Free Report)'s share price shot up 0.7% on Monday . The company traded as high as C$25.02 and last traded at C$25.01. 258,352 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 343,125 shares. The stock had previously closed at C$24.83.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised their target price on shares of Topaz Energy from C$28.00 to C$31.00 in a research report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$31.80.

Topaz Energy Trading Up 0.8%

The company has a quick ratio of 7.17, a current ratio of 1.89 and a debt-to-equity ratio of 36.45. The firm's 50-day moving average price is C$25.33 and its 200 day moving average price is C$24.73. The company has a market capitalization of C$3.95 billion, a P/E ratio of 62.59 and a beta of 0.27.

Topaz Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Monday, September 15th. Topaz Energy's payout ratio is presently 324.39%.

Insider Buying and Selling

In other Topaz Energy news, Director Mike Rose acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average cost of C$25.37 per share, with a total value of C$253,729.00. Company insiders own 35.66% of the company's stock.

About Topaz Energy

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada's natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices.