Royal Bank of Canada Increases PrairieSky Royalty (TSE:PSK) Price Target to C$27.00

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

Several other analysts have also commented on PSK. Raymond James decreased their price target on PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating on the stock in a research note on Friday, January 19th. National Bankshares boosted their price target on PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an outperform rating in a research note on Friday, April 19th. BMO Capital Markets boosted their price objective on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a hold rating in a research note on Tuesday. CIBC lowered PrairieSky Royalty from an outperform rating to a neutral rating and boosted their price objective for the stock from C$27.50 to C$31.00 in a research note on Monday, April 22nd. Finally, ATB Capital boosted their price objective on PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a research note on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, PrairieSky Royalty presently has an average rating of Hold and a consensus price target of C$27.30.

PrairieSky Royalty Stock Performance

Shares of TSE PSK opened at C$26.97 on Tuesday. PrairieSky Royalty has a 12 month low of C$20.69 and a 12 month high of C$28.42. The company has a market cap of C$6.45 billion, a P/E ratio of 28.39, a P/E/G ratio of 0.47 and a beta of 1.81. The business’s 50 day moving average is C$25.98 and its two-hundred day moving average is C$24.46. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings data on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, topping the consensus estimate of C$0.22 by C$0.06. PrairieSky Royalty had a return on equity of 8.22% and a net margin of 47.46%. The company had revenue of C$136.60 million for the quarter. On average, equities analysts expect that PrairieSky Royalty will post 1.0488722 EPS for the current year.

PrairieSky Royalty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. PrairieSky Royalty’s payout ratio is presently 105.26%.

Insider Transactions at PrairieSky Royalty

In other news, Senior Officer Andrew Phillips bought 3,800 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was bought at an average price of C$26.72 per share, for a total transaction of C$101,536.00. In related news, Director Glenn Mcnamara acquired 12,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average price of C$23.28 per share, for a total transaction of C$297,999.36. Also, Senior Officer Andrew Phillips acquired 3,800 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average price of C$26.72 per share, with a total value of C$101,536.00. 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.