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

Topaz Energy (TSE:TPZ) had its price objective cut by investment analysts at Desjardins from C$32.00 to C$29.50 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ target price indicates a potential upside of 21.90% from the company’s current price.

A number of other equities research analysts have also commented on TPZ. Scotiabank upped their price target on shares of Topaz Energy from C$35.00 to C$36.00 in a report on Friday, January 17th. Jefferies Financial Group upped their price target on shares of Topaz Energy from C$30.00 to C$31.00 in a report on Monday, December 16th. Finally, CIBC upped their price target on shares of Topaz Energy from C$31.00 to C$32.00 in a report on Friday, January 17th. One equities research 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 stock presently has an average rating of “Moderate Buy” and an average price target of C$31.42.

Topaz Energy Trading Down 0.1 %

TSE:TPZ opened at C$24.20 on Wednesday. The company has a fifty day moving average of C$25.26 and a 200 day moving average of C$26.37. Topaz Energy has a 52 week low of C$21.52 and a 52 week high of C$29.51. 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 has a market capitalization of C$3.70 billion, a P/E ratio of 56.82 and a beta of 0.50.

Insiders Place Their Bets

In other Topaz Energy news, Senior Officer Cheree Stephenson purchased 2,110 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of C$23.68 per share, for a total transaction of C$49,964.80. Also, Director Stephen Phillip Larke sold 100,000 shares of the 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. Company insiders own 35.66% of the company’s stock.

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.