PrairieSky Royalty Ltd. (TSE:PSK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$34.42.

Separately, Royal Bank Of Canada raised their price target on PrairieSky Royalty from C$36.00 to C$38.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th.

Insider Transactions at PrairieSky Royalty

In other PrairieSky Royalty news, insider Pamela Pearl Kazeil purchased 2,500 shares of PrairieSky Royalty stock in a transaction dated 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 acquisition, the insider directly owned 3,220 shares of the company’s stock, valued at C$107,612.40. This represents a 347.22% increase in their ownership of the stock. Also, insider Andrew Phillips acquired 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average cost of C$33.26 per share, for a total transaction of C$116,410.00. Following the acquisition, the insider owned 93,500 shares of the company’s stock, valued at C$3,109,810. This represents a 3.89% increase in their position. Insiders purchased 13,500 shares of company stock worth $439,135 over the last 90 days. 0.54% of the stock is currently owned by insiders.

PrairieSky Royalty Stock Performance

Shares of PrairieSky Royalty stock opened at C$35.76 on Friday. The business’s fifty day simple moving average is C$34.90 and its 200-day simple moving average is C$33.43. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 6.88. The firm has a market cap of C$8.31 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 0.47 and a beta of 0.73. PrairieSky Royalty has a 52 week low of C$24.51 and a 52 week high of C$37.29.

PrairieSky Royalty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.265 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.06 annualized dividend and a dividend yield of 3.0%. PrairieSky Royalty’s dividend payout ratio is 100.96%.

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.