PrairieSky Royalty (TSE:PSK) Lifted to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of PrairieSky Royalty (TSE:PSK) from a sector perform rating to an outperform rating in a report issued on Tuesday, MarketBeat reports. The brokerage currently has C$33.00 price objective on the stock, up from their previous price objective of C$31.00.

PSK has been the subject of a number of other research reports. ATB Capital upped their price objective on PrairieSky Royalty from C$28.50 to C$30.00 in a report on Friday, July 19th. Scotiabank increased their price target on PrairieSky Royalty from C$29.00 to C$31.00 in a report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of C$29.17.

PrairieSky Royalty Trading Up 1.5 %

Shares of PSK opened at C$27.92 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.30 and a debt-to-equity ratio of 5.40. PrairieSky Royalty has a 12-month low of C$21.22 and a 12-month high of C$28.59. The firm has a market capitalization of C$6.67 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 0.47 and a beta of 1.79. The stock’s fifty day simple moving average is C$27.22 and its 200-day simple moving average is C$26.62.

PrairieSky Royalty (TSE:PSK) last released its quarterly earnings data on Monday, July 15th. The company reported C$0.25 EPS for the quarter. The business had revenue of C$135.60 million during the quarter. PrairieSky Royalty had a return on equity of 8.37% and a net margin of 46.81%.

PrairieSky Royalty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.00 annualized dividend and a yield of 3.58%. 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.