Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Up – Still a Buy?

Freehold Royalties Ltd (OTCMKTS:FRHLF) shares gapped up prior to trading on Wednesday . The stock had previously closed at $12.18, but opened at $12.8250. Freehold Royalties shares last traded at $12.21, with a volume of 47,956 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FRHLF. National Bankshares cut shares of Freehold Royalties from an “outperform” rating to a “sector perform” rating in a research report on Friday, January 9th. Raymond James Financial upgraded shares of Freehold Royalties from a “market perform” rating to an “outperform” rating in a report on Monday, December 8th. Finally, Desjardins restated a “hold” rating on shares of Freehold Royalties in a report on Monday, November 17th. One research analyst has rated the stock with 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 “Hold”.

Freehold Royalties Trading Up 0.6%

The firm’s 50 day simple moving average is $11.01 and its 200-day simple moving average is $10.24. The company has a market capitalization of $2.01 billion and a PE ratio of 21.12. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28.

Freehold Royalties (OTCMKTS:FRHLF) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $54.00 million during the quarter. Freehold Royalties had a net margin of 40.11% and a return on equity of 11.99%.

Freehold Royalties Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.0642 per share. The ex-dividend date was Friday, November 28th. This represents a dividend yield of 731.0%. Freehold Royalties’s dividend payout ratio (DPR) is currently 136.21%.

Freehold Royalties Company Profile

Freehold Royalties Ltd is a Canadian energy company focused on the acquisition and management of petroleum and natural gas royalty interests. Rather than directly exploring or producing hydrocarbons, Freehold earns a portion of production revenue from wells operated by third parties. The company’s portfolio spans a variety of royalty structures, including freehold and other non-operated interests, which provide exposure to oil, natural gas and natural gas liquids without bearing the full costs and risks of exploration and development.

Freehold’s assets are concentrated in the Western Canadian Sedimentary Basin, with significant royalty interests in Alberta and British Columbia.