PrairieSky Royalty (TSE:PSK) Price Target Raised to C$33.00 at BMO Capital Markets

PrairieSky Royalty (TSE:PSK) had its price target lifted by BMO Capital Markets from C$30.00 to C$33.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. They currently have a hold rating on the stock.

Other analysts have also issued research reports about the company. 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 research report on Friday, April 19th. Raymond James cut 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 report on Friday, January 19th. 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 research report on Wednesday, April 17th. ATB Capital upped their price objective on PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a research report on Wednesday, March 20th. Finally, CIBC lowered 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 research report on Monday. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of C$27.30.

PrairieSky Royalty Stock Down 1.5 %

Shares of TSE PSK opened at C$27.04 on Tuesday. The firm has a market cap 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. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80. PrairieSky Royalty has a 52-week low of C$20.60 and a 52-week high of C$28.42. The business’s 50 day moving average is C$25.74 and its two-hundred day moving average is C$24.41.

PrairieSky Royalty (TSE:PSK) last posted its quarterly earnings data 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 business had revenue of C$136.60 million for the quarter. Research analysts predict that PrairieSky Royalty will post 1.0488722 EPS for the current year.

PrairieSky Royalty Increases Dividend

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

Insider Buying and Selling

In related news, Director Glenn Mcnamara acquired 12,800 shares of the firm’s stock in a transaction on 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 Leanne M. Bellegarde sold 6,650 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total value of C$171,437.00. Also, Director Glenn Mcnamara acquired 12,800 shares of the firm’s stock in a transaction 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. Insiders own 0.54% 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.