Topaz Energy (TSE:TPZ) PT Raised to C$27.00

Topaz Energy (TSE:TPZ) had its price objective increased by analysts at Royal Bank of Canada from C$26.00 to C$27.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 17.80% from the stock’s previous close.

Several other research analysts also recently commented on TPZ. TD Securities raised their price target on shares of Topaz Energy from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. BMO Capital Markets set a C$27.00 price target on shares of Topaz Energy and gave the company an “outperform” rating in a report on Wednesday, March 13th. Canaccord Genuity Group lifted their target price on shares of Topaz Energy from C$27.50 to C$28.50 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Desjardins decreased their price objective on shares of Topaz Energy from C$27.50 to C$26.50 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, Raymond James decreased 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 note on Friday, January 19th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$26.88.

Topaz Energy Price Performance

Shares of TSE TPZ traded down C$0.18 during midday trading on Tuesday, reaching C$22.92. The stock had a trading volume of 185,232 shares, compared to its average volume of 300,736. The stock has a 50-day moving average of C$21.76 and a 200-day moving average of C$20.48. The company has a debt-to-equity ratio of 31.49, a quick ratio of 7.17 and a current ratio of 8.52. The company has a market capitalization of C$3.32 billion, a price-to-earnings ratio of 69.48 and a beta of 0.48. Topaz Energy has a 12-month low of C$18.03 and a 12-month high of C$23.17.

Topaz Energy (TSE:TPZ) last released its quarterly earnings data on Monday, March 4th. The company reported C$0.13 EPS for the quarter, beating 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 business had revenue of C$82.78 million during the quarter, compared to analyst estimates of C$79.00 million. As a group, research analysts anticipate that Topaz Energy will post 0.2818351 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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. 35.55% of the stock is currently owned by corporate insiders.

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.