PrairieSky Royalty (TSE:PSK) Price Target Raised to C$33.00

PrairieSky Royalty (TSE:PSK) had its price objective upped by BMO Capital Markets from C$30.00 to C$33.00 in a research note published on Tuesday morning, BayStreet.CA reports. They currently have a hold rating on the stock.

Several other research firms also recently commented on PSK. Raymond James lowered their price objective on shares of 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. National Bankshares boosted their target price on shares of 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. CIBC downgraded shares of PrairieSky Royalty from an outperform rating to a neutral rating and boosted their target price for the company from C$27.50 to C$31.00 in a research report on Monday. Canaccord Genuity Group boosted their target price on shares of 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, ATB Capital boosted their target price on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a sector perform rating in a research report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, PrairieSky Royalty presently has a consensus rating of Hold and a consensus target price of C$27.30.

PrairieSky Royalty Trading Down 0.9 %

TSE:PSK opened at C$26.85 on Tuesday. PrairieSky Royalty has a 12 month low of C$20.69 and a 12 month high of C$28.42. The firm has a fifty day simple moving average of C$25.91 and a 200-day simple moving average of C$24.45. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 6.80. The company has a market capitalization of C$6.42 billion, a P/E ratio of 28.26, a PEG ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last posted its quarterly earnings data on Monday, February 12th. The company reported C$0.28 EPS for the quarter, topping the consensus estimate of C$0.22 by C$0.06. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. The business had revenue of C$136.60 million during the quarter. On average, equities research analysts anticipate that PrairieSky Royalty will post 1.0488722 earnings per share for the current year.

PrairieSky Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.72%. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. PrairieSky Royalty’s dividend payout ratio is 105.26%.

Insiders Place Their Bets

In other PrairieSky Royalty news, Director Leanne M. Bellegarde sold 6,650 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total value of C$171,437.00. In other PrairieSky Royalty news, Director Leanne M. Bellegarde sold 6,650 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total value of C$171,437.00. Also, Director Glenn Mcnamara acquired 12,800 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of C$23.28 per share, with a total value of C$297,999.36. Insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

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.