PrairieSky Royalty (TSE:PSK) Price Target Increased to C$18.50 by Analysts at National Bankshares

PrairieSky Royalty (TSE:PSK) had its price target upped by National Bankshares from C$15.00 to C$18.50 in a report issued on Friday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

PSK has been the subject of several other research reports. Canaccord Genuity Group raised their target price on PrairieSky Royalty from C$24.75 to C$28.00 and gave the stock a hold rating in a research note on Wednesday, April 17th. Raymond James lowered 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 report on Friday, January 19th. BMO Capital Markets set a C$30.00 price objective on shares of PrairieSky Royalty and gave the company an outperform rating in a research report on Wednesday, March 13th. ATB Capital lifted their target price on PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a report on Wednesday, March 20th. Finally, CIBC decreased their price objective on shares of PrairieSky Royalty from C$29.50 to C$27.50 and set an outperform rating for the company in a report on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of C$26.48.

PrairieSky Royalty Price Performance

Shares of PSK opened at C$27.45 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80. The stock has a market cap of C$6.56 billion, a PE ratio of 28.89, a PEG ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a 12-month low of C$20.60 and a 12-month high of C$28.42. The business has a 50-day simple moving average of C$25.65 and a two-hundred day simple moving average of C$24.39.

PrairieSky Royalty (TSE:PSK) last issued 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. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. The company had revenue of C$136.60 million for the quarter. Analysts anticipate that PrairieSky Royalty will post 1.0488722 earnings per share for the current fiscal year.

PrairieSky Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This is a boost from PrairieSky Royalty’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.64%. 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 shares were acquired at an average price of C$23.28 per share, for a total transaction of C$297,999.36. In other news, Director Glenn Mcnamara bought 12,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average price of C$23.28 per share, with a total value of C$297,999.36. Also, Director Leanne M. Bellegarde sold 6,650 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$25.78, for a total transaction of C$171,437.00. Corporate 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.