Scotiabank Increases PrairieSky Royalty (TSE:PSK) Price Target to C$31.00

PrairieSky Royalty (TSE:PSK) had its price objective raised by Scotiabank from C$29.00 to C$31.00 in a research note issued to investors on Friday morning, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets lifted their price objective on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a hold rating in a research report on Tuesday, April 23rd. Stifel Nicolaus lifted their price objective on PrairieSky Royalty from C$27.00 to C$30.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. CIBC downgraded PrairieSky Royalty from an outperform rating to a neutral rating and lifted their target price for the company from C$27.50 to C$31.00 in a research report on Monday, April 22nd. Canaccord Genuity Group lifted their target price on PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a hold rating in a research report on Wednesday, April 17th. Finally, National Bankshares lifted their target price on PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an outperform rating in a research report on Friday, April 19th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of C$27.90.

PrairieSky Royalty Price Performance

TSE:PSK opened at C$28.50 on Friday. PrairieSky Royalty has a one year low of C$21.22 and a one year high of C$28.55. The stock has a market cap of C$6.81 billion, a PE ratio of 31.32, a P/E/G ratio of 0.47 and a beta of 1.81. The company has a debt-to-equity ratio of 6.39, a quick ratio of 0.65 and a current ratio of 0.32. The stock has a 50 day moving average price of C$26.40 and a 200 day moving average price of C$25.27.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings data on Monday, April 22nd. The company reported C$0.20 EPS for the quarter, topping analysts’ consensus estimates of C$0.19 by C$0.01. PrairieSky Royalty had a return on equity of 7.91% and a net margin of 45.90%. The firm had revenue of C$120.70 million for the quarter. Equities research analysts expect that PrairieSky Royalty will post 0.9703787 EPS for the current fiscal year.

PrairieSky Royalty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 15th were paid a $0.25 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.51%. PrairieSky Royalty’s payout ratio is presently 109.89%.

Insider Activity

In other news, Senior Officer Andrew Phillips acquired 3,800 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was acquired at an average cost of C$26.72 per share, with a total value of C$101,536.00. Over the last ninety days, insiders bought 11,300 shares of company stock valued at $294,989. 0.53% of the stock is currently owned by corporate insiders.

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.