PrairieSky Royalty (TSE:PSK) Price Target Raised to C$30.00

PrairieSky Royalty (TSE:PSK) had its target price upped by Stifel Nicolaus from C$27.00 to C$30.00 in a research report sent to investors on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Raymond James reduced 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. Royal Bank of Canada upped their price objective on PrairieSky Royalty from C$26.00 to C$27.00 in a report on Tuesday. Canaccord Genuity Group upped their price objective on PrairieSky Royalty from C$24.75 to C$28.00 and gave the stock a hold rating in a report on Wednesday, April 17th. National Bankshares upped their price objective on PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an outperform rating in a report on Friday, April 19th. Finally, CIBC downgraded PrairieSky Royalty from an outperform rating to a neutral rating and upped their price objective for the stock from C$27.50 to C$31.00 in a report on Monday. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of C$27.30.

PrairieSky Royalty Price Performance

PSK stock opened at C$27.04 on Tuesday. PrairieSky Royalty has a 1 year low of C$20.60 and a 1 year high of C$28.42. The firm 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 stock’s 50 day moving average price is C$25.74 and its 200 day moving average price is C$24.41. 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 issued its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, topping 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 company had revenue of C$136.60 million for the quarter. On average, sell-side analysts expect that PrairieSky Royalty will post 1.0488722 earnings per share for the current fiscal year.

PrairieSky Royalty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.25 dividend. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Wednesday, March 27th. PrairieSky Royalty’s dividend payout ratio is currently 105.26%.

Insider Activity at PrairieSky Royalty

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