PrairieSky Royalty (TSE:PSK) Price Target Raised to C$27.00

PrairieSky Royalty (TSE:PSK) had its target price lifted by Royal Bank of Canada from C$26.00 to C$27.00 in a research report sent to investors on Tuesday, BayStreet.CA reports.

Other research analysts have also recently issued reports about the company. ATB Capital raised their target price on PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a research report on Wednesday, March 20th. Raymond James cut their price objective on PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating for the company in a report on Friday, January 19th. Canaccord Genuity Group lifted their price objective on PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a hold rating in a report on Wednesday, April 17th. National Bankshares lifted their price objective on PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an outperform rating in a report on Friday, April 19th. Finally, BMO Capital Markets lifted their price objective on PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a hold rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of C$27.30.

PrairieSky Royalty Stock Down 0.9 %

Shares of PSK stock opened at C$26.85 on Tuesday. The stock has a market cap of C$6.42 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a one year low of C$20.69 and a one year high of C$28.42. The stock has a fifty day moving average price of C$25.91 and a 200 day moving average price of C$24.45. The company has a debt-to-equity ratio of 6.80, a current ratio of 0.65 and a quick ratio of 0.65.

PrairieSky Royalty (TSE:PSK) last issued its earnings results on Monday, February 12th. The company reported C$0.28 EPS for the quarter, topping the consensus estimate of C$0.22 by C$0.06. The firm had revenue of C$136.60 million during the quarter. PrairieSky Royalty had a return on equity of 8.22% and a net margin of 47.46%. Analysts predict that PrairieSky Royalty will post 1.0488722 earnings per share for the current year.

PrairieSky Royalty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from PrairieSky Royalty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.72%. PrairieSky Royalty’s dividend payout ratio (DPR) is 105.26%.

Insider Activity

In other PrairieSky Royalty news, Director Glenn Mcnamara bought 12,800 shares of the stock in a transaction dated Tuesday, February 20th. The stock was bought 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 business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$25.78, for a total transaction of C$171,437.00. Also, Director Glenn Mcnamara acquired 12,800 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of C$23.28 per share, with a total value of C$297,999.36. 0.54% of the stock is currently owned by corporate insiders.

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.