Topaz Energy Hits New 52-Week High Amid Analyst Ratings Changes

Shares of Topaz Energy Corp. reached a new 52-week high at $23.19 on Monday, with a trading volume of 65314 shares. The company’s stock had previously closed at $22.83.

Analyst Ratings Changes:
– Canaccord Genuity Group raised their price target on Topaz Energy from $27.50 to $28.50 and gave the company a “buy” rating.
– Jefferies Financial Group set a price target of $23.00 on Topaz Energy with a “buy” rating.
– BMO Capital Markets set a target price of $27.00 on Topaz Energy with an “outperform” rating.
– TD Securities increased their price target on Topaz Energy from $24.00 to $25.00.
– Stifel Nicolaus raised their target price from $25.00 to $27.00.

Currently, ten analysts have rated the stock as a buy, with one assigning a strong buy rating. The company has an average rating of “Buy” and a consensus price target of $26.88.

Topaz Energy Stock Performance:
The company has a market cap of $3.36 billion, a price-to-earnings ratio of 71.59, and a beta of 0.50. Topaz Energy’s 50-day simple moving average is $22.53 and its 200-day simple moving average is $20.78. The company reported earnings per share of $0.04 for the quarter, falling short of the consensus estimate of $0.07.

Topaz Energy Announces Dividend:
Topaz Energy declared a quarterly dividend to be paid on June 28th. Stockholders of record on June 28th will receive a $0.32 dividend. The ex-dividend date is June 14th, with an annualized dividend of $1.28 and a dividend yield of 5.51%.

Insider Activity at Topaz Energy:
Director Stephen Phillip Larke sold 200,000 shares of Topaz Energy’s stock on March 27th. 35.66% of the stock is currently owned by insiders.

About Topaz Energy:
Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands, and is involved in natural gas processing and water management infrastructure activities.