PrairieSky Royalty (TSE:PSK) Price Target Raised to C$40.00

PrairieSky Royalty (TSE:PSK) had its price objective raised by BMO Capital Markets from C$39.00 to C$40.00 in a report published on Tuesday,BayStreet reports. They currently have an outperform rating on the stock.

Several other analysts also recently commented on the stock. Scotia boosted their target price on shares of PrairieSky Royalty from C$36.00 to C$37.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Royal Bank Of Canada raised their price target on shares of PrairieSky Royalty from C$38.00 to C$39.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. Finally, National Bank Financial lifted their price objective on shares of PrairieSky Royalty from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research note on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$38.29.

PrairieSky Royalty Trading Down 0.1%

TSE:PSK opened at C$37.02 on Tuesday. The stock’s 50 day moving average price is C$35.41 and its 200 day moving average price is C$33.06. PrairieSky Royalty has a 52 week low of C$24.76 and a 52 week high of C$38.08. The company has a market capitalization of C$8.61 billion, a P/E ratio of 30.85, a P/E/G ratio of 0.47 and a beta of 0.82. The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.65 and a current ratio of 0.75.

PrairieSky Royalty (TSE:PSK) last issued its quarterly earnings data on Monday, October 26th. The company reported C$0.36 earnings per share for the quarter. The firm had revenue of C$165.00 million for the quarter. PrairieSky Royalty had a net margin of 47.60% and a return on equity of 10.96%.

PrairieSky Royalty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 15th were issued a dividend of $0.2650 per share. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.9%. PrairieSky Royalty’s dividend payout ratio is currently 87.92%.

Insider Buying and Selling

In related news, insider Andrew Phillips bought 3,500 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was purchased at an average price of C$33.26 per share, with a total value of C$116,410.00. Following the completion of the transaction, the insider directly owned 93,500 shares of the company’s stock, valued at C$3,109,810. This trade represents a 3.89% increase in their ownership of the stock. Also, insider Pamela Pearl Kazeil bought 2,500 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were bought at an average cost of C$33.42 per share, with a total value of C$83,550.00. Following the transaction, the insider directly owned 3,220 shares of the company’s stock, valued at approximately C$107,612.40. This trade represents a 347.22% increase in their ownership of the stock. 0.54% of the stock is currently owned by company insiders.

About PrairieSky Royalty

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.