PrairieSky Royalty (TSE:PSK) Price Target Raised to C$28.50 at ATB Capital

PrairieSky Royalty (TSE:PSK) had its target price increased by ATB Capital from C$27.00 to C$28.50 in a report released on Tuesday morning, BayStreet.CA reports.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets lifted their target price on PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a hold rating in a research report on Tuesday. Royal Bank of Canada lifted their price target on PrairieSky Royalty from C$26.00 to C$27.00 in a report on Tuesday. Raymond James dropped their price target 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. National Bankshares lifted their price target on PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an outperform rating in a report on Friday, April 19th. Finally, CIBC lowered PrairieSky Royalty from an outperform rating to a neutral rating and lifted their price target for the stock from C$27.50 to C$31.00 in a report on Monday, April 22nd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of C$27.30.

PrairieSky Royalty Stock Up 0.4 %

Shares of TSE:PSK opened at C$26.97 on Tuesday. The stock has a market cap of C$6.45 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 0.47 and a beta of 1.81. 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 12-month low of C$20.69 and a 12-month high of C$28.42. The business’s 50 day moving average is C$25.98 and its 200 day moving average is C$24.46.

PrairieSky Royalty (TSE:PSK) last announced its earnings results on Monday, February 12th. The company reported C$0.28 earnings per share (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 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 business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from PrairieSky Royalty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.71%. PrairieSky Royalty’s payout ratio is 105.26%.

Insider Activity

In related news, Director Glenn Mcnamara purchased 12,800 shares of PrairieSky Royalty stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of C$23.28 per share, for a total transaction of C$297,999.36. In other PrairieSky Royalty news, Senior Officer Andrew Phillips bought 3,800 shares of PrairieSky Royalty stock in a transaction that occurred on 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. Also, Director Glenn Mcnamara bought 12,800 shares of PrairieSky Royalty stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired 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 company 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.