Brokerages Set PrairieSky Royalty Ltd. (TSE:PSK) Target Price at C$30.80

PrairieSky Royalty Ltd. (TSE:PSK) has earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$30.80.

PSK has been the subject of a number of research reports. National Bankshares upped their target price on shares of PrairieSky Royalty from C$33.00 to C$37.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Atb Cap Markets upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$31.00 to C$33.00 in a research note on Tuesday, September 17th. TD Securities lifted their price objective on PrairieSky Royalty from C$25.00 to C$26.00 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. Finally, Raymond James raised shares of PrairieSky Royalty to a “hold” rating in a report on Thursday, October 17th.

PrairieSky Royalty Stock Up 0.1 %

Shares of PSK opened at C$29.75 on Friday. The business’s 50 day moving average is C$28.43 and its 200 day moving average is C$27.33. The company has a current ratio of 0.30, a quick ratio of 0.65 and a debt-to-equity ratio of 5.40. PrairieSky Royalty has a 12-month low of C$21.22 and a 12-month high of C$30.66. The company has a market capitalization of C$7.11 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78.

PrairieSky Royalty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Friday, September 27th. PrairieSky Royalty’s dividend payout ratio (DPR) is currently 104.17%.

Insiders Place Their Bets

In related news, Senior Officer Daniel James Bertram bought 7,670 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of C$28.20 per share, with a total value of C$216,290.93. 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.