PrairieSky Royalty Ltd. (TSE:PSK) Receives C$26.50 Consensus Target Price from Analysts

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have been given a consensus rating of “Hold” by the ten analysts that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$26.78.

Several equities research analysts recently commented on PSK shares. Canaccord Genuity Group raised their target price on PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a “hold” rating in a report on Wednesday. BMO Capital Markets set a C$30.00 price objective on PrairieSky Royalty and gave the stock an “outperform” rating in a report on Wednesday, March 13th. ATB Capital lifted their price objective on PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 20th. Raymond James dropped their price objective on PrairieSky Royalty from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Finally, CIBC dropped their price objective on PrairieSky Royalty from C$29.50 to C$27.50 and set an “outperform” rating on the stock in a report on Tuesday, January 16th.

Insider Activity

In other news, Director Glenn Mcnamara purchased 12,800 shares of the stock in a transaction dated Tuesday, February 20th. The stock was acquired 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 business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$25.78, for a total transaction of C$171,437.00. Also, Director Glenn Mcnamara acquired 12,800 shares of PrairieSky Royalty stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of C$23.28 per share, with a total value of C$297,999.36. Company insiders own 0.54% of the company’s stock.

PrairieSky Royalty Stock Performance

Shares of TSE:PSK opened at C$27.54 on Thursday. The company has a market cap of C$6.58 billion, a P/E ratio of 28.99, a PEG ratio of 0.47 and a beta of 1.81. 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 has a one year low of C$20.41 and a one year high of C$28.42. The business’s 50-day simple moving average is C$25.33 and its 200 day simple moving average is C$24.32.

PrairieSky Royalty (TSE:PSK) last announced its earnings results on Monday, February 12th. The company reported C$0.28 EPS for the quarter, beating the consensus estimate of C$0.22 by C$0.06. The business had revenue of C$136.60 million for the quarter. PrairieSky Royalty had a return on equity of 8.22% and a net margin of 47.46%. On average, sell-side analysts forecast that PrairieSky Royalty will post 1.0488722 earnings per share for the current fiscal year.

PrairieSky Royalty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.63%. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 27th. PrairieSky Royalty’s payout ratio is 105.26%.

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.