PrairieSky Royalty Ltd. (PSK) To Go Ex-Dividend on September 29th

PrairieSky Royalty Ltd. (TSE:PSK) declared a quarterly dividend on Tuesday, September 29th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.2650 per share on Thursday, October 15th. This represents a $1.06 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 29th.

PrairieSky Royalty Trading Down 0.6%

TSE PSK traded down C$0.20 on Friday, hitting C$33.66. 188,962 shares of the stock were exchanged, compared to its average volume of 500,494. PrairieSky Royalty has a 52-week low of C$24.51 and a 52-week 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. The company has a market capitalization of C$7.82 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 0.47 and a beta of 0.73. The company’s 50-day moving average price is C$35.32 and its two-hundred day moving average price is C$33.72.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lifted their price target on PrairieSky Royalty from C$36.00 to C$38.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, PrairieSky Royalty currently has an average rating of “Moderate Buy” and a consensus price target of C$34.42.

PrairieSky Royalty Company Profile

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.