PrairieSky Royalty Ltd. (TSE:PSK) Receives C$34.42 Consensus Target Price from Analysts

PrairieSky Royalty Ltd. (TSE:PSK) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$34.42.

A number of research analysts have recently weighed in on the company. Roth Capital raised PrairieSky Royalty to a “strong-buy” rating in a research note on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th.

PrairieSky Royalty Stock Up 1.3%

Shares of TSE:PSK opened at C$35.33 on Tuesday. The company has a debt-to-equity ratio of 6.88, a current ratio of 0.90 and a quick ratio of 0.65. The stock has a market cap of C$8.21 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 0.47 and a beta of 0.73. The company has a 50 day moving average of C$33.47 and a 200-day moving average of C$32.59. PrairieSky Royalty has a one year low of C$23.43 and a one year high of C$35.89.

PrairieSky Royalty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.265 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.06 dividend on an annualized basis and a yield of 3.0%. PrairieSky Royalty’s dividend payout ratio (DPR) is 100.96%.

Insider Transactions at PrairieSky Royalty

In other news, insider Pamela Pearl Kazeil purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were acquired at an average cost of C$33.42 per share, for a total transaction of C$83,550.00. Following the transaction, the insider directly owned 3,220 shares of the company’s stock, valued at approximately C$107,612.40. The trade was a 347.22% increase in their position. Also, insider Ian Charles Dundas acquired 7,500 shares of PrairieSky Royalty stock in a transaction that occurred on Friday, June 19th. The shares were purchased at an average cost of C$31.89 per share, for a total transaction of C$239,175.00. Following the purchase, the insider directly owned 27,500 shares in the company, valued at C$876,975. The trade was a 37.50% increase in their ownership of the stock. In the last ninety days, insiders purchased 13,500 shares of company stock worth $439,135. 0.54% of the stock is currently owned by company insiders.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.