PrairieSky Royalty (TSE:PSK) Price Target Raised to C$30.00

PrairieSky Royalty (TSE:PSK) had its target price upped by Stifel Nicolaus from C$27.00 to C$30.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. National Bankshares boosted their price objective on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an outperform rating in a research note on Friday, April 19th. Royal Bank of Canada lifted their target price on shares of PrairieSky Royalty from C$26.00 to C$27.00 in a research report on Tuesday. CIBC lowered shares of PrairieSky Royalty from an outperform rating to a neutral rating and lifted their target price for the company from C$27.50 to C$31.00 in a research report on Monday, April 22nd. ATB Capital lifted their target price on shares of PrairieSky Royalty from C$27.00 to C$28.50 in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their target price on shares of PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a hold rating in a research report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of C$27.30.

PrairieSky Royalty Price Performance

Shares of TSE:PSK opened at C$26.97 on Tuesday. The company has a 50 day moving average of C$25.98 and a 200 day moving average of C$24.46. The stock has a market cap of C$6.45 billion, a P/E ratio of 28.39, a P/E/G ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a 12 month low of C$20.69 and a 12 month high of C$28.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 6.80.

PrairieSky Royalty (TSE:PSK) last issued its quarterly earnings data 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 company had revenue of C$136.60 million during the quarter. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. As a group, sell-side analysts forecast that PrairieSky Royalty will post 1.0488722 EPS for the current fiscal year.

PrairieSky Royalty Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.25 dividend. This is a boost from PrairieSky Royalty’s previous quarterly dividend of $0.24. 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 3.71%. PrairieSky Royalty’s dividend payout ratio is 105.26%.

Insider Activity

In other PrairieSky Royalty news, Senior Officer Andrew Phillips acquired 3,800 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was bought at an average price of C$26.72 per share, with a total value of C$101,536.00. In other PrairieSky Royalty news, Director Leanne M. Bellegarde sold 6,650 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total transaction of C$171,437.00. Also, Senior Officer Andrew Phillips purchased 3,800 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of C$26.72 per share, with a total value of C$101,536.00. 0.54% of the stock is owned by corporate 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.