Topaz Energy (TSE:TPZ) Price Target Lowered to C$29.50 at Desjardins

Topaz Energy (TSE:TPZ) had its target price cut by investment analysts at Desjardins from C$32.00 to C$29.50 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ target price would indicate a potential upside of 23.28% from the stock’s previous close.

Several other equities analysts have also weighed in on TPZ. CIBC raised their target price on Topaz Energy from C$31.00 to C$32.00 in a report on Friday, January 17th. Jefferies Financial Group lifted their price objective on Topaz Energy from C$30.00 to C$31.00 in a research note on Monday, December 16th. Finally, Scotiabank lifted their target price on Topaz Energy from C$35.00 to C$36.00 in a research report on Friday, January 17th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$31.42.

Topaz Energy Price Performance

Shares of TPZ stock traded up C$0.21 during mid-day trading on Wednesday, hitting C$23.93. 411,790 shares of the stock traded hands, compared to its average volume of 383,002. The firm has a market cap of C$3.66 billion, a price-to-earnings ratio of 56.19 and a beta of 0.50. The company has a debt-to-equity ratio of 36.45, a quick ratio of 7.17 and a current ratio of 1.89. The company’s 50-day simple moving average is C$25.41 and its 200-day simple moving average is C$26.40. Topaz Energy has a twelve month low of C$21.52 and a twelve month high of C$29.51.

Insider Activity at Topaz Energy

In related news, Senior Officer Cheree Stephenson bought 2,110 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of C$23.68 per share, with a total value of C$49,964.80. Also, Director Stephen Phillip Larke sold 100,000 shares of Topaz Energy stock in a transaction dated Monday, January 27th. The stock was sold at an average price of C$26.10, for a total transaction of C$2,610,000.00. 35.66% of the stock is currently owned by corporate insiders.

About Topaz Energy

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.