PrairieSky Royalty (TSE:PSK) Stock Rating Lowered by CIBC

CIBC lowered shares of PrairieSky Royalty (TSE:PSK) from an outperform rating to a neutral rating in a research report report published on Monday morning, BayStreet.CA reports. CIBC currently has C$31.00 price objective on the stock, up from their prior price objective of C$27.50.

PSK has been the topic of several other reports. ATB Capital lifted their target price on PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a sector perform rating in a research note on Wednesday, March 20th. BMO Capital Markets set a C$30.00 price objective on shares of PrairieSky Royalty and gave the company an outperform rating in a research note on Wednesday, March 13th. Raymond James cut 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 report on Friday, January 19th. Canaccord Genuity Group lifted 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. Finally, National Bankshares boosted their price target on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an outperform rating in a research note on Friday, April 19th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, PrairieSky Royalty presently has an average rating of Hold and a consensus target price of C$27.30.

PrairieSky Royalty Stock Down 0.9 %

Shares of TSE:PSK opened at C$26.85 on Monday. PrairieSky Royalty has a 1-year low of C$20.69 and a 1-year high of C$28.42. The company has a debt-to-equity ratio of 6.80, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of C$6.42 billion, a P/E ratio of 28.26, a P/E/G ratio of 0.47 and a beta of 1.81. The firm has a fifty day moving average price of C$25.91 and a 200 day moving average price of C$24.45.

PrairieSky Royalty (TSE:PSK) last announced its earnings results on Monday, February 12th. The company reported C$0.28 earnings per share 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. Sell-side analysts predict that PrairieSky Royalty will post 1.0488722 EPS for the current year.

PrairieSky Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued 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 3.72%. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. PrairieSky Royalty’s payout ratio is currently 105.26%.

Insiders Place Their Bets

In related news, Director Glenn Mcnamara purchased 12,800 shares of PrairieSky Royalty stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of C$23.28 per share, for a total transaction of C$297,999.36. In other news, Director Leanne M. Bellegarde sold 6,650 shares of PrairieSky Royalty stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$25.78, for a total transaction of C$171,437.00. Also, Director Glenn Mcnamara acquired 12,800 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average cost of C$23.28 per share, for a total transaction of C$297,999.36. 0.54% of the stock is currently 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.