PrairieSky Royalty (TSE:PSK) Releases Earnings Results

PrairieSky Royalty (TSE:PSK) released its earnings results on Monday. The company reported C$0.36 EPS for the quarter, FiscalAI reports. PrairieSky Royalty had a return on equity of 9.48% and a net margin of 44.86%. The firm had revenue of C$165.00 million for the quarter.

PrairieSky Royalty Stock Performance

PrairieSky Royalty stock opened at C$36.81 on Wednesday. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.65 and a current ratio of 0.90. The company has a 50 day moving average price of C$35.35 and a 200-day moving average price of C$32.96. The company has a market capitalization of C$8.56 billion, a PE ratio of 35.39, a P/E/G ratio of 0.47 and a beta of 0.82. PrairieSky Royalty has a fifty-two week low of C$24.76 and a fifty-two week high of C$38.08.

PrairieSky Royalty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 15th were paid a dividend of $0.2650 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, September 29th. PrairieSky Royalty’s payout ratio is currently 100.96%.

Insiders Place Their Bets

In other news, insider Pamela Pearl Kazeil acquired 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average cost of C$33.42 per share, for a total transaction of C$83,550.00. Following the completion of the acquisition, the insider directly owned 3,220 shares of the company’s stock, valued at C$107,612.40. The trade was a 347.22% increase in their position. Also, insider Andrew Phillips acquired 3,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average cost of C$33.26 per share, with a total value of C$116,410.00. Following the completion of the purchase, the insider owned 93,500 shares of the company’s stock, valued at C$3,109,810. This trade represents a 3.89% increase in their ownership of the stock. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on PSK. Royal Bank Of Canada raised their price target on PrairieSky Royalty from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. BMO Capital Markets upped their price objective on PrairieSky Royalty from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research report on Tuesday. National Bank Financial upped their price objective on PrairieSky Royalty from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research report on Tuesday, October 20th. Finally, Scotia increased their target price on PrairieSky Royalty from C$36.00 to C$37.00 and gave the stock a “sector perform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$36.93.

PrairieSky Royalty Company Profile

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.