PrairieSky Royalty Ltd. (TSE:PSK) Receives Average Rating of “Moderate Buy” from Analysts

PrairieSky Royalty Ltd. (TSE:PSK) has earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$34.42.

Separately, Royal Bank Of Canada increased their price target on PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th.

PrairieSky Royalty Trading Up 0.1%

TSE PSK opened at C$36.31 on Friday. The company’s fifty day moving average price is C$34.47 and its two-hundred day moving average price is C$33.22. The company has a market capitalization of C$8.44 billion, a price-to-earnings ratio of 34.91, a price-to-earnings-growth ratio of 0.47 and a beta of 0.73. PrairieSky Royalty has a 12 month low of C$24.04 and a 12 month high of C$37.29. The company has a debt-to-equity ratio of 6.88, a current ratio of 0.90 and a quick ratio of 0.65.

PrairieSky Royalty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio (DPR) is currently 100.96%.

Insiders Place Their Bets

In other PrairieSky Royalty news, insider Andrew Phillips purchased 3,500 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were purchased 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 in the company, valued at C$3,109,810. This represents a 3.89% increase in their position. Also, insider Ian Charles Dundas acquired 7,500 shares of the business’s stock in a transaction dated Friday, June 19th. The shares were bought at an average price of C$31.89 per share, with a total value of C$239,175.00. Following the transaction, the insider directly owned 27,500 shares in the company, valued at approximately C$876,975. The trade was a 37.50% increase in their position. Over the last three months, insiders have acquired 13,500 shares of company stock worth $439,135. 0.54% of the stock is owned by corporate insiders.

About PrairieSky Royalty

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.