PrairieSky Royalty (TSE:PSK) Reaches New 12-Month High Following Analyst Upgrade

Shares of PrairieSky Royalty Ltd. (TSE:PSK) reached a new 52-week high during trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$39.00 to C$42.00. Royal Bank Of Canada currently has an outperform rating on the stock. PrairieSky Royalty traded as high as C$37.37 and last traded at C$37.37, with a volume of 13,522 shares changing hands. The stock had previously closed at C$36.70.

A number of other research firms have also recently weighed in on PSK. National Bank Financial raised their price objective on PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 20th. Raymond James Financial boosted their target price on PrairieSky Royalty from C$39.00 to C$42.00 and gave the stock a “market perform” rating in a research note on Wednesday. BMO Capital Markets upped their target price on PrairieSky Royalty from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Scotia upped their target price on PrairieSky Royalty from C$36.00 to C$37.00 and gave the company a “sector perform” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, PrairieSky Royalty currently has an average rating of “Moderate Buy” and an average target price of C$38.29.

Insider Activity

In related news, insider Andrew Phillips acquired 3,500 shares of the stock in a transaction on Wednesday, August 5th. The shares were acquired at an average price of C$33.26 per share, for a total transaction of C$116,410.00. Following the transaction, the insider owned 93,500 shares in the company, valued at approximately C$3,109,810. This trade represents a 3.89% increase in their position. Also, insider Pamela Pearl Kazeil acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were purchased at an average cost of C$33.42 per share, for a total transaction of C$83,550.00. Following the purchase, the insider directly owned 3,220 shares in the company, valued at approximately C$107,612.40. This trade represents a 347.22% increase in their ownership of the stock. Insiders own 0.54% of the company’s stock.

Trending Headlines about PrairieSky Royalty

Here are the key news stories impacting PrairieSky Royalty this week:

• Positive Sentiment: Strong Q3 earnings and cash flow: PrairieSky reported third-quarter EPS of C$0.36 and revenue of approximately C$165 million. Net earnings reportedly increased 80% year over year, while the results reinforced optimism about the company’s cash-flow generation. PrairieSky Royalty Q3 Results Fuel Cash Flow Optimism PrairieSky Royalty Ltd. Bottom Line Rises in Q3
• Positive Sentiment: RBC and BMO raised targets: Royal Bank of Canada increased its price target from C$39 to C$42 and maintained an “outperform” rating. BMO Capital Markets also raised its target, from C$39 to C$40, while retaining its “outperform” rating. These revisions suggest analysts see additional upside following the earnings release. Royal Bank of Canada PrairieSky Rating BMO Capital Markets PrairieSky Rating
• Neutral Sentiment: Mixed analyst conviction: Raymond James lifted its target from C$39 to C$42 but kept a “market perform” rating, while Scotia raised its target from C$36 to C$37 and maintained “sector perform.” The increases are supportive, although the ratings indicate limited conviction that PrairieSky will significantly outperform the broader sector. Raymond James PrairieSky Rating Scotia PrairieSky Rating

PrairieSky Royalty Price Performance

The stock has a market capitalization of C$8.61 billion, a PE ratio of 30.88, a P/E/G ratio of 0.47 and a beta of 0.82. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.75 and a quick ratio of 0.65. The stock’s fifty day moving average is C$35.38 and its 200-day moving average is C$33.01.

PrairieSky Royalty (TSE:PSK) last released its quarterly earnings data on Monday, October 26th. The company reported C$0.36 earnings per share for the quarter. The company had revenue of C$165.00 million during the quarter. PrairieSky Royalty had a net margin of 47.60% and a return on equity of 10.96%.

PrairieSky Royalty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 15th were given a dividend of $0.2650 per share. The ex-dividend date was Tuesday, September 29th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.9%. PrairieSky Royalty’s dividend payout ratio (DPR) is 87.92%.

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.