PrairieSky Royalty Ltd (TSE:PSK) had its price target raised by Royal Bank Of Canada from C$35.00 to C$36.00 in a research report report published on Wednesday, November 1st. The firm currently has an outperform rating on the stock.
A number of other research firms have also recently issued reports on PSK. National Bank Financial raised their price objective on PrairieSky Royalty from C$28.00 to C$33.00 in a report on Tuesday, October 31st. Scotiabank lifted their price target on PrairieSky Royalty from C$35.00 to C$36.00 and gave the stock a sector perform rating in a report on Tuesday, October 31st. CIBC boosted their price objective on shares of PrairieSky Royalty from C$38.00 to C$40.00 in a report on Tuesday, October 31st. TD Securities lifted their target price on PrairieSky Royalty from C$32.00 to C$34.00 and gave the company a hold rating in a research report on Tuesday, October 31st. Finally, Raymond James Financial, Inc. downgraded PrairieSky Royalty from an outperform rating to a market perform rating and set a C$34.00 target price for the company. in a research report on Tuesday, October 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of C$35.45.
Shares of PrairieSky Royalty (PSK) traded down C$0.65 during trading on Wednesday, hitting C$32.15. 207,281 shares of the company traded hands, compared to its average volume of 481,496. PrairieSky Royalty has a 52-week low of C$27.10 and a 52-week high of C$35.90.
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The firm also recently declared a monthly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 15th were issued a $0.0625 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Monday, October 30th. PrairieSky Royalty’s dividend payout ratio (DPR) is 179.88%.
In related news, Director Sheldon Brooks Steeves sold 7,714 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of C$35.62, for a total value of C$274,772.68.
About PrairieSky Royalty
PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.
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