PrairieSky Royalty (TSE:PSK) PT Raised to C$28.00 at Canaccord Genuity Group

PrairieSky Royalty (TSE:PSK) had its target price hoisted by Canaccord Genuity Group from C$24.75 to C$28.00 in a research note published on Wednesday morning, BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other analysts also recently weighed in on the stock. ATB Capital upped their price target on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a report on Wednesday, March 20th. National Bankshares dropped their price objective on shares of PrairieSky Royalty from C$28.00 to C$25.00 and set a sector perform rating for the company in a research note on Wednesday, January 10th. Raymond James dropped their price objective on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating for the company in a research note on Friday, January 19th. CIBC dropped their price objective on shares of PrairieSky Royalty from C$29.50 to C$27.50 and set an outperform rating for the company in a research note on Tuesday, January 16th. Finally, BMO Capital Markets set a C$30.00 price objective on shares of PrairieSky Royalty and gave the company an outperform rating in a research note on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$26.13.

PrairieSky Royalty Stock Performance

Shares of PrairieSky Royalty stock opened at C$27.73 on Wednesday. The company has a 50 day moving average of C$25.55 and a 200-day moving average of C$24.37. PrairieSky Royalty has a 1-year low of C$20.44 and a 1-year high of C$28.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 6.80. The company has a market cap of C$6.63 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last issued its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.06. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. The company had revenue of C$136.60 million during the quarter. As a group, equities research analysts forecast that PrairieSky Royalty will post 1.0488722 earnings per share for the current fiscal year.

PrairieSky Royalty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.25 dividend. This is a boost from PrairieSky Royalty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Wednesday, March 27th. PrairieSky Royalty’s dividend payout ratio is 105.26%.

Insider Buying and Selling at PrairieSky Royalty

In other PrairieSky Royalty news, Director Glenn Mcnamara purchased 12,800 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of C$23.28 per share, for a total transaction of C$297,999.36. In other PrairieSky Royalty news, Director Leanne M. Bellegarde sold 6,650 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total value of C$171,437.00. Also, Director Glenn Mcnamara purchased 12,800 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of C$23.28 per share, with a total value of C$297,999.36. Corporate insiders own 0.54% of the company’s stock.

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.