PrairieSky Royalty Ltd. (TSE:PSK) Receives C$34.42 Average Price Target from Brokerages

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$34.42.

PSK has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price target on shares of PrairieSky Royalty from C$36.00 to C$38.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Raymond James Financial downgraded shares of PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and upped their price objective for the company from C$35.00 to C$35.50 in a research note on Monday, March 30th. Finally, Roth Capital upgraded shares of PrairieSky Royalty to a “strong-buy” rating in a report on Thursday, April 30th.

PrairieSky Royalty Price Performance

Shares of PrairieSky Royalty stock opened at C$34.71 on Friday. The company has a debt-to-equity ratio of 6.88, a current ratio of 0.90 and a quick ratio of 0.65. The business’s 50 day simple moving average is C$33.34 and its two-hundred day simple moving average is C$31.50. The stock has a market capitalization of C$8.07 billion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 0.47 and a beta of 0.75. PrairieSky Royalty has a one year low of C$23.32 and a one year high of C$35.89.

PrairieSky Royalty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.06 dividend on an annualized basis and a yield of 3.1%. PrairieSky Royalty’s dividend payout ratio is presently 100.96%.

Insiders Place Their Bets

In other PrairieSky Royalty news, insider Ian Charles Dundas acquired 7,500 shares of the business’s stock in a transaction dated Friday, June 19th. The shares were purchased at an average cost of C$31.89 per share, for a total transaction of C$239,175.00. Following the transaction, the insider owned 27,500 shares in the company, valued at C$876,975. This represents a 37.50% increase in their ownership of the stock. Company insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.