Stephen Phillip Larke Sells 200,000 Shares of Topaz Energy Corp. (TSE:TPZ) Stock

Topaz Energy Corp. (TSE:TPZ) Director Stephen Phillip Larke sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of C$22.35, for a total transaction of C$4,470,000.00.

Topaz Energy Price Performance

Shares of TSE TPZ opened at C$22.30 on Friday. Topaz Energy Corp. has a 52 week low of C$18.03 and a 52 week high of C$22.55. The stock has a market cap of C$3.23 billion, a price-to-earnings ratio of 67.58 and a beta of 0.48. The company’s 50-day moving average price is C$20.24 and its 200 day moving average price is C$20.36. The company has a current ratio of 8.52, a quick ratio of 7.17 and a debt-to-equity ratio of 31.49.

Topaz Energy (TSE:TPZ) last released its quarterly earnings results on Monday, March 4th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.06 by C$0.07. Topaz Energy had a net margin of 14.82% and a return on equity of 3.66%. The company had revenue of C$82.78 million for the quarter, compared to analysts’ expectations of C$79.00 million. As a group, research analysts forecast that Topaz Energy Corp. will post 0.2308671 earnings per share for the current fiscal year.

Topaz Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.32 per share. This is a boost from Topaz Energy’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend was Thursday, March 14th. Topaz Energy’s dividend payout ratio (DPR) is currently 387.88%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TPZ. Canaccord Genuity Group upped their target price on shares of Topaz Energy from C$27.50 to C$28.50 and gave the company a “buy” rating in a report on Tuesday, March 5th. Raymond James cut their price objective on shares of Topaz Energy from C$27.00 to C$25.00 and set a “strong-buy” rating for the company in a research report on Friday, January 19th. Scotiabank cut their price objective on shares of Topaz Energy from C$32.00 to C$30.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. Desjardins cut their price target on shares of Topaz Energy from C$27.50 to C$26.50 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Finally, CIBC cut their price target on shares of Topaz Energy from C$26.50 to C$24.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Topaz Energy presently has a consensus rating of “Buy” and a consensus price target of C$26.63.

Topaz Energy Company Profile

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.