PrairieSky Royalty (TSE:PSK) PT Raised to C$37.00

PrairieSky Royalty (TSE:PSK) had its price objective boosted by National Bankshares from C$33.00 to C$37.00 in a research note released on Wednesday, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

A number of other brokerages have also commented on PSK. ATB Capital lifted their price target on shares of PrairieSky Royalty from C$28.50 to C$30.00 in a research note on Friday, July 19th. Raymond James raised shares of PrairieSky Royalty to a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada raised PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$31.00 to C$33.00 in a research note on Tuesday, September 17th. TD Securities cut their price objective on PrairieSky Royalty from C$26.00 to C$25.00 in a research report on Tuesday, October 1st. Finally, Scotiabank boosted their price target on PrairieSky Royalty from C$29.00 to C$31.00 in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PrairieSky Royalty currently has an average rating of “Hold” and an average target price of C$30.60.

PrairieSky Royalty Price Performance

PSK stock opened at C$28.04 on Wednesday. The company has a market cap of C$6.70 billion, a P/E ratio of 29.21, a PEG ratio of 0.47 and a beta of 1.78. The firm has a 50-day moving average of C$27.52 and a 200 day moving average of C$27.06. PrairieSky Royalty has a 1 year low of C$21.22 and a 1 year high of C$28.93. The company has a debt-to-equity ratio of 5.40, a current ratio of 0.30 and a quick ratio of 0.65.

PrairieSky Royalty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Friday, September 27th. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 104.17%.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.