Brokerages Set PrairieSky Royalty Ltd. (TSE:PSK) Target Price at C$28.94

PrairieSky Royalty Ltd. (TSE:PSK) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$28.94.

A number of equities research analysts have recently commented on PSK shares. Stifel Nicolaus increased their price objective on PrairieSky Royalty from C$27.00 to C$30.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Canaccord Genuity Group lifted their price target on PrairieSky Royalty from C$24.75 to C$28.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. CIBC lowered shares of PrairieSky Royalty from an “outperform” rating to a “neutral” rating and upped their price objective for the company from C$27.50 to C$31.00 in a research note on Monday, April 22nd. Scotiabank raised their target price on shares of PrairieSky Royalty from C$29.00 to C$31.00 in a report on Friday, July 12th. Finally, Royal Bank of Canada boosted their price target on shares of PrairieSky Royalty from C$27.00 to C$31.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th.

PrairieSky Royalty Price Performance

TSE:PSK opened at C$27.33 on Friday. PrairieSky Royalty has a 52-week low of C$21.22 and a 52-week high of C$28.59. The company has a quick ratio of 0.65, a current ratio of 0.32 and a debt-to-equity ratio of 6.39. The firm has a market cap of C$6.53 billion, a P/E ratio of 30.03, a PEG ratio of 0.47 and a beta of 1.81. The business’s 50-day moving average price is C$26.65 and its 200 day moving average price is C$25.50.

PrairieSky Royalty (TSE:PSK) last released its earnings results on Monday, July 15th. The company reported C$0.25 EPS for the quarter. The business had revenue of C$135.60 million for the quarter. PrairieSky Royalty had a net margin of 45.90% and a return on equity of 7.91%. As a group, sell-side analysts predict that PrairieSky Royalty will post 0.9703787 earnings per share for the current fiscal year.

PrairieSky Royalty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, June 28th. PrairieSky Royalty’s payout ratio is presently 109.89%.

Insiders Place Their Bets

In related news, Senior Officer Andrew Phillips bought 7,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of C$25.75 per share, with a total value of C$180,250.00. Insiders own 0.53% 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.