Brokerages Set PrairieSky Royalty Ltd. (TSE:PSK) Target Price at C$27.30

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have earned an average recommendation of “Hold” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$27.30.

PSK has been the subject of several research analyst reports. CIBC downgraded shares of PrairieSky Royalty from an “outperform” rating to a “neutral” rating and upped their price target for the company from C$27.50 to C$31.00 in a research report on Monday, April 22nd. Canaccord Genuity Group raised their target price on 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. Stifel Nicolaus increased their price objective on PrairieSky Royalty from C$27.00 to C$30.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. BMO Capital Markets lifted their target price on PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Finally, National Bankshares raised 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 report on Friday, April 19th.

PrairieSky Royalty Stock Down 1.3 %

Shares of PrairieSky Royalty stock opened at C$26.00 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.32 and a debt-to-equity ratio of 6.39. PrairieSky Royalty has a 12-month low of C$21.22 and a 12-month high of C$28.42. The firm has a market capitalization of C$6.21 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81. The stock’s fifty day moving average is C$26.33 and its 200-day moving average is C$25.04.

PrairieSky Royalty (TSE:PSK) last posted its quarterly earnings data on Monday, April 22nd. The company reported C$0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.19 by C$0.01. PrairieSky Royalty had a return on equity of 7.91% and a net margin of 45.90%. The firm had revenue of C$120.70 million for the quarter. Equities analysts anticipate that PrairieSky Royalty will post 0.9703787 earnings per share for the current year.

PrairieSky Royalty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Friday, June 28th. PrairieSky Royalty’s payout ratio is presently 109.89%.

Insider Buying and Selling at PrairieSky Royalty

In other news, Senior Officer Andrew Phillips purchased 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average price of C$25.75 per share, for a total transaction of C$180,250.00. In the last 90 days, insiders purchased 11,300 shares of company stock worth $294,989. 0.53% of the stock is currently owned by corporate 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.