PrairieSky Royalty (TSE:PSK) Price Target Raised to C$30.00

PrairieSky Royalty (TSE:PSK) had its price objective raised by Stifel Nicolaus from C$27.00 to C$30.00 in a report published on Tuesday, BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other analysts have also commented on PSK. Raymond James lowered 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 report on Friday, January 19th. Royal Bank of Canada lifted their price target on shares of PrairieSky Royalty from C$26.00 to C$27.00 in a research report on Tuesday. Canaccord Genuity Group lifted their price target 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. National Bankshares lifted their price target 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. Finally, CIBC cut shares of 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 research report on Monday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, PrairieSky Royalty has an average rating of Hold and an average price target of C$27.30.

PrairieSky Royalty Stock Performance

Shares of PrairieSky Royalty stock opened at C$26.97 on Tuesday. The company has a debt-to-equity ratio of 6.80, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of C$6.45 billion, a P/E ratio of 28.39, a P/E/G ratio of 0.47 and a beta of 1.81. The firm has a 50 day simple moving average of C$25.98 and a 200 day simple moving average of C$24.46. PrairieSky Royalty has a fifty-two week low of C$20.69 and a fifty-two week high of C$28.42.

PrairieSky Royalty (TSE:PSK) last issued its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of C$136.60 million during the quarter. Sell-side analysts predict that PrairieSky Royalty will post 1.0488722 earnings per share for the current fiscal year.

PrairieSky Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.25 dividend. This is a boost from PrairieSky Royalty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Wednesday, March 27th. PrairieSky Royalty’s payout ratio is currently 105.26%.

Insider Activity at PrairieSky Royalty

In related news, Director Glenn Mcnamara acquired 12,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average cost of C$23.28 per share, with a total value of C$297,999.36. In other PrairieSky Royalty news, Director Leanne M. Bellegarde sold 6,650 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total transaction of C$171,437.00. Also, Director Glenn Mcnamara purchased 12,800 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average cost of C$23.28 per share, for a total transaction of C$297,999.36. 0.54% of the stock is currently owned by 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.