Brokerages Set PrairieSky Royalty Ltd. (TSE:PSK) Price Target at C$30.60

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$30.80.

A number of research firms recently commented on PSK. Raymond James upgraded PrairieSky Royalty to a “hold” rating in a report on Thursday, October 17th. TD Securities boosted their price objective on shares of PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Scotiabank lifted their price target on shares of PrairieSky Royalty from C$29.00 to C$31.00 in a research report on Friday, July 12th. Atb Cap Markets raised PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada raised PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$31.00 to C$33.00 in a research note on Tuesday, September 17th.

PrairieSky Royalty Stock Performance

Shares of PrairieSky Royalty stock opened at C$27.22 on Monday. The firm has a fifty day moving average of C$27.60 and a two-hundred day moving average of C$27.07. The company has a debt-to-equity ratio of 5.40, a quick ratio of 0.65 and a current ratio of 0.30. The stock has a market capitalization of C$6.51 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 0.47 and a beta of 1.78. PrairieSky Royalty has a 52 week low of C$21.22 and a 52 week high of C$28.93.

PrairieSky Royalty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. PrairieSky Royalty’s payout ratio is presently 104.17%.

Insider Activity at PrairieSky Royalty

In other PrairieSky Royalty news, Senior Officer Daniel James Bertram purchased 7,670 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of C$28.20 per share, with a total value of C$216,290.93. 0.54% of the stock is owned by insiders.

About PrairieSky Royalty

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.