PrairieSky Royalty (TSE:PSK) Price Target Raised to C$33.00

PrairieSky Royalty (TSE:PSK) had its target price increased by BMO Capital Markets from C$30.00 to C$33.00 in a report released on Tuesday morning, BayStreet.CA reports. BMO Capital Markets currently has a hold rating on the stock.

A number of other equities analysts have also recently issued reports on PSK. CIBC cut shares of PrairieSky Royalty from an outperform rating to a neutral rating and lifted their target price for the stock from C$27.50 to C$31.00 in a research report on Monday. National Bankshares lifted their target price on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an outperform rating in a research report on Friday, April 19th. ATB Capital lifted their target price on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a research report on Wednesday, March 20th. Canaccord Genuity Group lifted their target price on shares of PrairieSky Royalty from C$24.75 to C$28.00 and gave the stock a hold rating in a research report on Wednesday, April 17th. Finally, Raymond James cut their target price on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating for the company in a research report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, PrairieSky Royalty presently has a consensus rating of Hold and an average price target of C$27.30.

PrairieSky Royalty Stock Down 0.9 %

Shares of TSE PSK opened at C$26.85 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80. PrairieSky Royalty has a 52 week low of C$20.69 and a 52 week high of C$28.42. The firm has a 50-day moving average price of C$25.91 and a 200 day moving average price of C$24.45. The stock has a market capitalization of C$6.42 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last announced 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. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. The firm had revenue of C$136.60 million during the quarter. Equities research analysts anticipate that PrairieSky Royalty will post 1.0488722 EPS 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 dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. 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 dividend yield of 3.72%. PrairieSky Royalty’s payout ratio is 105.26%.

Insider Transactions at PrairieSky Royalty

In other news, Senior Officer Andrew Phillips purchased 3,800 shares of the stock in a transaction dated Wednesday, April 24th. The stock was acquired at an average cost of C$26.72 per share, for a total transaction of C$101,536.00. 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 shares were sold at an average price of C$25.78, for a total value of C$171,437.00. Also, Senior Officer Andrew Phillips bought 3,800 shares of the stock in a transaction that occurred on 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. Insiders own 0.54% of the company’s stock.

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.