PrairieSky Royalty (TSE:PSK) Hits New 12-Month High After Analyst Upgrade

Shares of PrairieSky Royalty Ltd. (TSE:PSK) hit a new 52-week high during trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from C$39.00 to C$42.00. Royal Bank Of Canada currently has an outperform rating on the stock. PrairieSky Royalty traded as high as C$37.37 and last traded at C$37.37, with a volume of 13,522 shares trading hands. The stock had previously closed at C$36.70.

Other research analysts have also issued research reports about the stock. National Bank Financial lifted their price objective on shares of PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 20th. Scotia upped their target price on shares of PrairieSky Royalty from C$36.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Tuesday. Raymond James Financial upped their target price on shares of PrairieSky Royalty from C$39.00 to C$42.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, BMO Capital Markets increased their target price on shares of PrairieSky Royalty from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, PrairieSky Royalty currently has an average rating of “Moderate Buy” and a consensus target price of C$38.29.

Insider Activity

In other PrairieSky Royalty news, insider Pamela Pearl Kazeil bought 2,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average cost of C$33.42 per share, with a total value of C$83,550.00. Following the purchase, the insider owned 3,220 shares in the company, valued at C$107,612.40. This trade represents a 347.22% increase in their ownership of the stock. Also, insider Andrew Phillips bought 3,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were acquired at an average cost of C$33.26 per share, with a total value of C$116,410.00. Following the completion of the purchase, the insider owned 93,500 shares in the company, valued at C$3,109,810. This represents a 3.89% increase in their position. Insiders own 0.54% of the company’s stock.

Key PrairieSky Royalty News

Here are the key news stories impacting PrairieSky Royalty this week:

• Positive Sentiment: Strong Q3 earnings and cash flow: PrairieSky reported third-quarter EPS of C$0.36 and revenue of approximately C$165 million. Net earnings reportedly increased 80% year over year, while the results reinforced optimism about the company’s cash-flow generation. PrairieSky Royalty Q3 Results Fuel Cash Flow Optimism PrairieSky Royalty Ltd. Bottom Line Rises in Q3
• Positive Sentiment: RBC and BMO raised targets: Royal Bank of Canada increased its price target from C$39 to C$42 and maintained an “outperform” rating. BMO Capital Markets also raised its target, from C$39 to C$40, while retaining its “outperform” rating. These revisions suggest analysts see additional upside following the earnings release. Royal Bank of Canada PrairieSky Rating BMO Capital Markets PrairieSky Rating
• Neutral Sentiment: Mixed analyst conviction: Raymond James lifted its target from C$39 to C$42 but kept a “market perform” rating, while Scotia raised its target from C$36 to C$37 and maintained “sector perform.” The increases are supportive, although the ratings indicate limited conviction that PrairieSky will significantly outperform the broader sector. Raymond James PrairieSky Rating Scotia PrairieSky Rating

PrairieSky Royalty Price Performance

The company’s 50-day moving average price is C$35.38 and its 200-day moving average price is C$33.01. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.75 and a quick ratio of 0.65. The company has a market cap of C$8.61 billion, a P/E ratio of 30.88, a P/E/G ratio of 0.47 and a beta of 0.82.

PrairieSky Royalty (TSE:PSK) last posted its quarterly earnings data on Monday, October 26th. The company reported C$0.36 EPS for the quarter. The business had revenue of C$165.00 million for the quarter. PrairieSky Royalty had a net margin of 47.60% and a return on equity of 10.96%.

PrairieSky Royalty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 15th were issued a $0.2650 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, September 29th. PrairieSky Royalty’s payout ratio is 87.92%.

PrairieSky Royalty Company Profile

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.