PrairieSky Royalty (TSE:PSK) Price Target Raised to C$42.00

PrairieSky Royalty (TSE:PSK) had its target price boosted by Raymond James Financial from C$39.00 to C$42.00 in a research report released on Wednesday morning,BayStreet reports. Raymond James Financial currently has a market perform rating on the stock.

PSK has been the topic of a number of other research reports. 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. BMO Capital Markets raised their target price on PrairieSky Royalty from C$39.00 to C$40.00 and gave the company an “outperform” rating in a report on Tuesday. Scotia boosted their price target on PrairieSky Royalty from C$36.00 to C$37.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, National Bank Financial upped their price target on PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock 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 given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$38.29.

PrairieSky Royalty Trading Down 0.1%

TSE:PSK opened at C$36.98 on Wednesday. The stock’s 50 day moving average price is C$35.41 and its 200 day moving average price is C$33.12. 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$8.60 billion, a P/E ratio of 30.82, 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 posted its earnings results on Monday, October 26th. The company reported C$0.36 earnings per share (EPS) for the quarter. The firm had revenue of C$165.00 million during 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 given 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 Transactions at PrairieSky Royalty

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

PrairieSky Royalty Company Profile

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.