Topaz Energy (OTCMKTS:TPZEF) Stock Price Down 0.4% – Time to Sell?

Topaz Energy Corp. (OTCMKTS:TPZEF) shares were down 0.4% during trading on Wednesday. The stock traded as low as $20.83 and last traded at $20.8330. Approximately 20,378 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 123,137 shares. The stock had previously closed at $20.9080.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Roth Capital started coverage on Topaz Energy in a report on Tuesday, June 30th. They set a “buy” rating on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Topaz Energy in a research note on Friday, July 17th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Topaz Energy in a report on Friday, October 9th. Four analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Topaz Energy presently has an average rating of “Buy”.

Topaz Energy Price Performance

The company’s 50 day simple moving average is $21.78 and its two-hundred day simple moving average is $22.28.

About Topaz Energy

Topaz Energy Corp. is a Canadian royalty and energy infrastructure company focused on generating cash flow from a portfolio of natural gas and oil assets. The company’s operations are concentrated in the Western Canadian Sedimentary Basin, particularly in Alberta and northeastern British Columbia.

Topaz owns royalty interests that provide it with production-linked revenue without requiring it to fund most ongoing drilling and development costs. Its portfolio also includes strategic investments in energy infrastructure, such as natural gas processing, gathering and water-management facilities, as well as select working interests in producing assets.

The company was established with assets contributed by Tourmaline Oil Corp.