PrairieSky Royalty (PSK) PT Lowered to C$30.00 at CIBC

PrairieSky Royalty (TSE:PSK) had its target price trimmed by CIBC from C$32.00 to C$30.00 in a report released on Friday morning.

Several other equities analysts also recently commented on PSK. Raymond James decreased their price objective on shares of PrairieSky Royalty from C$30.00 to C$29.50 and set a market perform rating on the stock in a report on Friday, June 29th. Canaccord Genuity reduced their target price on shares of PrairieSky Royalty from C$35.00 to C$29.00 in a research report on Tuesday, July 10th. Finally, National Bank Financial raised shares of PrairieSky Royalty from a sector perform overweight rating to an outperform overweight rating and boosted their target price for the company from C$30.00 to C$31.00 in a research report on Wednesday, July 18th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of C$32.11.

TSE:PSK opened at C$23.22 on Friday. PrairieSky Royalty has a one year low of C$22.69 and a one year high of C$35.90.

PrairieSky Royalty (TSE:PSK) last released its quarterly earnings data on Monday, July 23rd. The company reported C$0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.09 by C$0.02. PrairieSky Royalty had a net margin of 43.61% and a return on equity of 5.87%. The firm had revenue of C$76.20 million for the quarter.

The firm also recently announced a monthly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a $0.065 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 3.36%.

In other PrairieSky Royalty news, insider Andrew Phillips bought 3,000 shares of PrairieSky Royalty stock in a transaction dated Friday, July 27th. The stock was bought at an average price of C$24.75 per share, with a total value of C$74,250.00. In the last three months, insiders bought 3,850 shares of company stock valued at $94,602.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd. engages in crude oil and natural gas businesses in Canada. The company holds royalty interests in properties located in Alberta, Saskatchewan, British Columbia, and Manitoba. It hold interests in approximately 7.8 million acres with petroleum and/or natural gas rights; 1.1 million acres with coal; and 7.5 million acres of GORR Lands.

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Analyst Recommendations for PrairieSky Royalty (TSE:PSK)

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