Royal Bank of Canada Increases PrairieSky Royalty (TSE:PSK) Price Target to C$27.00

PrairieSky Royalty (TSE:PSK) had its target price boosted by Royal Bank of Canada from C$26.00 to C$27.00 in a report published on Tuesday, BayStreet.CA reports.

Several other equities analysts have also weighed in on the stock. 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 report on Wednesday, April 17th. CIBC lowered 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 report on Monday, April 22nd. 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 report on Friday, April 19th. 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 report on Wednesday, March 20th. Finally, Raymond James decreased their target price on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating on the stock in a report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of C$27.30.

PrairieSky Royalty Stock Performance

PSK opened at C$26.97 on Tuesday. The firm has a market capitalization of C$6.45 billion, a PE ratio of 28.39, a PEG ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a twelve month low of C$20.69 and a twelve month high of C$28.42. The firm’s 50-day moving average price is C$25.98 and its 200 day moving average price is C$24.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 6.80.

PrairieSky Royalty (TSE:PSK) last posted its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.06. The firm had revenue of C$136.60 million for the quarter. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. As a group, sell-side analysts expect that PrairieSky Royalty will post 1.0488722 EPS for the current fiscal year.

PrairieSky Royalty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 3.71%. This is a boost from PrairieSky Royalty’s previous quarterly dividend of $0.24. PrairieSky Royalty’s dividend payout ratio is currently 105.26%.

Insider Buying and Selling

In other PrairieSky Royalty news, Senior Officer Andrew Phillips purchased 3,800 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average price of C$26.72 per share, for a total transaction of C$101,536.00. In other news, Director Leanne M. Bellegarde sold 6,650 shares of the firm’s stock in a transaction on 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, Senior Officer Andrew Phillips bought 3,800 shares of PrairieSky Royalty stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average price of C$26.72 per share, with a total value of C$101,536.00. 0.54% of the stock is owned by company insiders.

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.