PrairieSky Royalty Ltd. (TSE:PSK) Receives C$27.30 Consensus Target Price from Analysts

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have earned an average rating of “Hold” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$27.30.

A number of research analysts have recently commented on the company. Canaccord Genuity Group upped their target price on PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Raymond James cut their price target on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. CIBC lowered shares of PrairieSky Royalty from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from C$27.50 to C$31.00 in a report on Monday, April 22nd. Stifel Nicolaus boosted their price target on PrairieSky Royalty from C$27.00 to C$30.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, ATB Capital raised their price objective on PrairieSky Royalty from C$27.00 to C$28.50 in a report on Tuesday, April 23rd.

PrairieSky Royalty Stock Up 1.2 %

TSE PSK opened at C$26.14 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80. PrairieSky Royalty has a 52 week low of C$21.22 and a 52 week high of C$28.42. The firm has a market capitalization of C$6.25 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 0.47 and a beta of 1.81. The company has a fifty day moving average of C$26.29 and a two-hundred day moving average of C$24.52.

PrairieSky Royalty (TSE:PSK) last released its quarterly earnings results on Monday, February 12th. The company reported C$0.28 EPS for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.06. The firm had revenue of C$136.60 million during the quarter. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. On average, analysts predict that PrairieSky Royalty will post 1.0488722 earnings per share for the current year.

PrairieSky Royalty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.83%. This is a positive change from PrairieSky Royalty’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 27th. PrairieSky Royalty’s payout ratio is presently 105.26%.

Insider Buying and Selling at PrairieSky Royalty

In other news, Senior Officer Andrew Phillips acquired 3,800 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average price of C$26.72 per share, for a total transaction of C$101,536.00. In other PrairieSky Royalty news, Director Glenn Mcnamara purchased 12,800 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of C$23.28 per share, for a total transaction of C$297,999.36. Also, Senior Officer Andrew Phillips acquired 3,800 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average cost of C$26.72 per share, with a total value of C$101,536.00. Insiders have purchased 17,100 shares of company stock worth $412,738 over the last quarter. Insiders own 0.54% of the company’s stock.

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.