Andrew Phillips Acquires 3,800 Shares of PrairieSky Royalty Ltd. (TSE:PSK) Stock

PrairieSky Royalty Ltd. (TSE:PSK) Senior Officer Andrew Phillips purchased 3,800 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were purchased at an average price of C$26.72 per share, with a total value of C$101,536.00.

PrairieSky Royalty Stock Performance

TSE:PSK traded up C$0.24 during trading hours on Wednesday, reaching C$27.28. 123,026 shares of the stock were exchanged, compared to its average volume of 293,726. 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 firm has a 50 day simple moving average of C$25.74 and a 200-day simple moving average of C$24.41. PrairieSky Royalty Ltd. has a 52 week low of C$20.60 and a 52 week high of C$28.42. The stock has a market capitalization of C$6.52 billion, a P/E ratio of 28.46, a P/E/G ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last released its 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 return on equity of 8.22% and a net margin of 47.46%. The company had revenue of C$136.60 million for the quarter. As a group, sell-side analysts forecast that PrairieSky Royalty Ltd. will post 1.0488722 earnings per share for the current fiscal year.

PrairieSky Royalty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. PrairieSky Royalty’s dividend payout ratio (DPR) is currently 105.26%.

Analysts Set New Price Targets

PSK has been the subject of several research analyst reports. National Bankshares upped their price target on PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Royal Bank of Canada increased their target price on PrairieSky Royalty from C$26.00 to C$27.00 in a research note on Tuesday. Canaccord Genuity Group increased 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 lowered their target price on 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. Finally, Stifel Nicolaus raised their price objective on PrairieSky Royalty from C$27.00 to C$30.00 and gave the company a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$27.30.

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.