PrairieSky Royalty (TSE:PSK) Given New C$33.00 Price Target at BMO Capital Markets

PrairieSky Royalty (TSE:PSK) had its price target hoisted by BMO Capital Markets from C$30.00 to C$33.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a hold rating on the stock.

A number of other equities research analysts have also weighed in on PSK. ATB Capital upped their target price on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a report on Wednesday, March 20th. CIBC lowered shares of PrairieSky Royalty from an outperform rating to a neutral rating and increased their price objective for the company from C$27.50 to C$31.00 in a research note on Monday, April 22nd. Raymond James decreased 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 increased their price objective on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an outperform rating in a research note on Friday, April 19th. Finally, Canaccord Genuity Group increased their price objective on shares of PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a hold rating in a research note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PrairieSky Royalty has an average rating of Hold and a consensus price target of C$27.30.

PrairieSky Royalty Trading Up 0.4 %

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

PrairieSky Royalty (TSE:PSK) last posted its 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. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. The company had revenue of C$136.60 million for the quarter. As a group, research analysts predict that PrairieSky Royalty will post 1.0488722 earnings per share for the current fiscal year.

PrairieSky Royalty Increases Dividend

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

Insider Activity

In related news, 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 cost of C$26.72 per share, with a total value of C$101,536.00. In other PrairieSky Royalty news, Senior Officer Andrew Phillips acquired 3,800 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average cost of C$26.72 per share, with a total value of C$101,536.00. Also, Director Glenn Mcnamara acquired 12,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average cost 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.