ATB Capital Increases PrairieSky Royalty (TSE:PSK) Price Target to C$28.50

PrairieSky Royalty (TSE:PSK) had its target price raised by ATB Capital from C$27.00 to C$28.50 in a report issued on Tuesday morning, BayStreet.CA reports.

A number of other research analysts also recently weighed in on PSK. CIBC downgraded PrairieSky Royalty from an outperform rating to a neutral rating and increased their target price for the company from C$27.50 to C$31.00 in a report on Monday. Royal Bank of Canada increased their target price on PrairieSky Royalty from C$26.00 to C$27.00 in a report on Tuesday. BMO Capital Markets increased their target price on PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a hold rating in a report on Tuesday. Canaccord Genuity Group increased their target price 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. Finally, Raymond James decreased their price objective 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of C$27.30.

PrairieSky Royalty Trading Down 1.5 %

Shares of TSE:PSK opened at C$27.04 on Tuesday. The company has a market cap of C$6.46 billion, a P/E ratio of 28.46, a PEG ratio of 0.47 and a beta of 1.81. 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 has a 1 year low of C$20.60 and a 1 year high of C$28.42. The stock’s fifty day moving average price is C$25.74 and its 200-day moving average price is C$24.41.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of C$136.60 million for the quarter. Sell-side analysts expect 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. Investors 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 annualized dividend and a dividend yield of 3.70%. This is a boost from PrairieSky Royalty’s previous quarterly dividend of $0.24. PrairieSky Royalty’s dividend payout ratio (DPR) is currently 105.26%.

Insider Buying and Selling

In related news, Director Leanne M. Bellegarde sold 6,650 shares of the 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. In other PrairieSky Royalty news, Director Glenn Mcnamara bought 12,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of C$23.28 per share, for a total transaction of C$297,999.36. Also, Director Leanne M. Bellegarde sold 6,650 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$25.78, for a total value of C$171,437.00. 0.54% of the stock is currently owned by company 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.