PrairieSky Royalty (TSE:PSK) Price Target Raised to C$18.50

PrairieSky Royalty (TSE:PSK) had its price target raised by National Bankshares from C$15.00 to C$18.50 in a report published on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

PSK has been the subject of a number of other research reports. ATB Capital raised their price objective on PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a sector perform rating in a research note on Wednesday, March 20th. BMO Capital Markets set a C$30.00 target price on shares of PrairieSky Royalty and gave the stock an outperform rating in a report on Wednesday, March 13th. CIBC decreased their price objective on PrairieSky Royalty from C$29.50 to C$27.50 and set an outperform rating for the company in a report on Tuesday, January 16th. Canaccord Genuity Group increased their price target on 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. Finally, Raymond James cut their price objective on shares of 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. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of C$26.48.

PrairieSky Royalty Price Performance

Shares of PSK opened at C$27.45 on Friday. The company has a market capitalization of C$6.56 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81. The business has a 50-day moving average of C$25.65 and a 200-day moving average of C$24.39. The company has a debt-to-equity ratio of 6.80, a current ratio of 0.65 and a quick ratio of 0.65. PrairieSky Royalty has a 1 year low of C$20.60 and a 1 year high of C$28.42.

PrairieSky Royalty (TSE:PSK) last issued its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.06. The firm had revenue of C$136.60 million during the quarter. PrairieSky Royalty had a return on equity of 8.22% and a net margin of 47.46%. As a group, equities research analysts anticipate that PrairieSky Royalty will post 1.0488722 earnings per share for the current year.

PrairieSky Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.25 per share. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Wednesday, March 27th. PrairieSky Royalty’s payout ratio is presently 105.26%.

Insider Activity at PrairieSky Royalty

In other PrairieSky Royalty news, Director Glenn Mcnamara purchased 12,800 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of C$23.28 per share, with a total value of C$297,999.36. In related news, Director Leanne M. Bellegarde sold 6,650 shares of the company’s stock in a transaction 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 purchased 12,800 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of C$23.28 per share, with a total value of C$297,999.36. 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.