PrairieSky Royalty (TSE:PSK) Given New C$27.00 Price Target at Royal Bank of Canada

PrairieSky Royalty (TSE:PSK) had its price objective hoisted by Royal Bank of Canada from C$26.00 to C$27.00 in a report published on Tuesday morning, BayStreet.CA reports.

A number of other research analysts have also issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of 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. ATB Capital boosted their target price on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a sector perform rating in a research note on Wednesday, March 20th. Raymond James reduced their target price on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating for the company in a research note on Friday, January 19th. National Bankshares boosted their target price on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an outperform rating in a research note on Friday, April 19th. Finally, BMO Capital Markets boosted their target price on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a hold rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of C$27.30.

PrairieSky Royalty Trading Down 1.5 %

TSE PSK opened at C$27.04 on Tuesday. PrairieSky Royalty has a one year low of C$20.60 and a one year high of C$28.42. The company has a 50-day simple moving average of C$25.74 and a 200-day simple moving average of C$24.41. The company has a debt-to-equity ratio of 6.80, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of C$6.46 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last posted its quarterly earnings results on Monday, February 12th. The company reported C$0.28 EPS for the quarter, beating the consensus estimate of C$0.22 by C$0.06. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. The business had revenue of C$136.60 million during the quarter. On average, equities analysts forecast 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 paid a $0.25 dividend. This is a positive change from PrairieSky Royalty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Wednesday, March 27th. PrairieSky Royalty’s dividend payout ratio is currently 105.26%.

Insider Transactions at PrairieSky Royalty

In related news, Director Glenn Mcnamara purchased 12,800 shares of PrairieSky Royalty stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of C$23.28 per share, with a total value of C$297,999.36. In related news, Director Leanne M. Bellegarde sold 6,650 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total value of C$171,437.00. Also, Director Glenn Mcnamara bought 12,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average price of C$23.28 per share, for a total transaction of C$297,999.36. Company insiders own 0.54% of the company’s stock.

PrairieSky Royalty Company Profile

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.