$TPZ.TO

CIBC Raises Topaz Energy's Price Target to C$34.50 from C$33.50 Following Q1 Results

CIBC Capital Markets on Tuesday maintained its outperformer rating on the shares of Topaz Energy (TPZ.TO) while raising its price target to C$34.50 from $33.50 following first-quarter results from the oil and gas processing and royalty company.The company's production of 24,600 barrels of oil equivalent per day (boe/d) in the first quarter beat CIBC's estimate of 24,000 boe/d and the consensus forecast of 23,800 boe/d.Topaz's first-quarter production exceeded the top end of its 2026 royalty volume guidance range, and the company also slightly raised its quarterly dividend.Price: $31.68, Change: $-0.11, Percent Change: -0.35%

Topaz Energy Maintained at Buy at TPH Following Q1 Results; Price Target at C$32.00

Tudor, Pickering, Holt on Wednesday maintained its buy rating on the shares of Topaz Energy (TPZ.TO) with a C$32.00 price target after the oil and gas processing and royalty company reported first-quarter results."On Q1'26 financials, C$0.52 CFPS headlined results, better vs. TPHe/Street C$0.48/C$0.51. Compared to our model, better-than-expected liquids production drove higher royalty revenue, and cash taxes were lower than forecasted, partially offset by a wider hedging loss, while infrastructure revenue remained relatively in-line (C$23.4MM vs. TPHe C$23.9MM). Capex of C$1.5MM (ex-acquisitions vs. TPHe/Street C$1.5MM/C$1.3MM) and the production/revenue beat solidified stronger-than-expected FCF vs. consensus (C$78.7MM vs. TPHe/Street C$73.0MM/C$75.3MM). On volumes, Q1'26 royalty production of 24.6mboepd was ahead of TPHe/Street 24.1/23.8 and exceeded the high end of the FY'26 guidance range, with liquids of 7.0mbopd in-line with Street but ahead of TPHe 6.7. Drilling was diversified across 138 gross wells (48 Clearwater, 31 NEBC & AB Montney, 23 Deep Basin, 8 Peace River, 11 SE Sask, 13 Central AB incl. 9 Belly River oil-focused), with 55% directed into oil-focused plays, 131 wells brought on production, and 86 DUCs at quarter-end. On 2026 guidance, the range on royalty production was reaffirmed at 23.5-23.9mboepd, though with production now expected at the high end, driven by oil-focused activity and Clearwater waterflood implementations by key operators," analyst Jeoffrey Lambujon wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $31.65, Change: $-0.14, Percent Change: -0.44%

Topaz Energy Posts Higher Revenue; Adjusted Profit; Quarterly Dividend Raised

Topaz Energy (TPZ.TO) after trade Tuesday said its first-quarter revenue and adjusted profit rose slightly year-over-year and approved a quarterly dividend increase.The oil and gas royalty and infrastructure company posted an adjusted profit, excluding most one-time items, of $38.2 million, or $0.25 per share, in the period, up from $38 million, or $0.25, a year ago. FactSet expected earnings per share of $0.32.Revenue rose $94.6 million from $92.2 million in the year-prior quarter. FactSet projected $93 million."Topaz reconfirms the previously announced range of annual average royalty production and processing revenue and other income, however, does expect that annual average royalty production will track at the upper end of the range, driven by strong oil-focused activity while allowing for prudent natural gas-focused capital discipline," the company said.The company added that it expects its 2026 exit net debt to be $407 million, excluding any new acquisitions, and plans to keep its payout ratio toward the low end of its 60% to 90% target range.The board increased the quarterly dividend to $0.35 per share from $0.34 per share. It is payable on June 30 to shareholders on record as of June 15.

Earnings Flash (TPZ.TO) Topaz Energy Dividend Increase To $0.35 Per Share

Earnings Flash (TPZ.TO) Topaz Energy Reports Q1 Average Royalty Production of 24,609 boe/d Exceeded High End of Prior Announced 2026 Guidance Range