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

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

Several other brokerages also recently issued reports on PSK. CIBC downgraded shares of PrairieSky Royalty from an outperform rating to a neutral rating and lifted their price target for the company from C$27.50 to C$31.00 in a report on Monday. ATB Capital lifted their price target on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a sector perform rating in a report on Wednesday, March 20th. BMO Capital Markets lifted their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a hold rating in a report on Tuesday. Raymond James cut their price target on shares of 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. Finally, Canaccord Genuity Group lifted their price target on shares of PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a hold rating in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of C$27.30.

PrairieSky Royalty Price Performance

TSE:PSK opened at C$27.04 on Tuesday. The company has a 50-day moving average of C$25.74 and a 200-day moving average of C$24.41. The company has a market capitalization of C$6.46 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a 52 week low of C$20.60 and a 52 week high of C$28.42. The company has a debt-to-equity ratio of 6.80, a quick ratio of 0.65 and a current ratio of 0.65.

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

PrairieSky Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.70%. The ex-dividend date was Wednesday, March 27th. This is a boost from PrairieSky Royalty’s previous quarterly dividend of $0.24. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 105.26%.

Insider Transactions at PrairieSky Royalty

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

About PrairieSky Royalty

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.