PrairieSky Royalty (TSE:PSK) Price Target Raised to C$37.00

PrairieSky Royalty (TSE:PSK) had its price objective increased by Scotia from C$36.00 to C$37.00 in a research report released on Tuesday morning,BayStreet reports. They currently have a sector perform rating on the stock.

Other analysts have also issued reports about the stock. National Bank Financial upped their price target on shares of PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 20th. Royal Bank Of Canada raised their price objective on shares of PrairieSky Royalty from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. One research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$38.29.

PrairieSky Royalty Stock Performance

PSK stock opened at C$37.02 on Tuesday. The company has a market capitalization of C$8.61 billion, a P/E ratio of 30.85, a PEG ratio of 0.47 and a beta of 0.82. The company has a 50-day simple moving average of C$35.41 and a 200 day simple moving average of C$33.06. PrairieSky Royalty has a fifty-two week low of C$24.76 and a fifty-two week high of C$38.08. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 3.55.

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

PrairieSky Royalty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 15th were issued a $0.2650 dividend. The ex-dividend date was Tuesday, September 29th. This represents a $1.06 annualized dividend and a dividend yield of 2.9%. PrairieSky Royalty’s dividend payout ratio is 87.92%.

Insider Activity

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

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.