PrairieSky Royalty (TSE:PSK) Price Target Raised to C$42.00

PrairieSky Royalty (TSE:PSK) had its price target lifted by Royal Bank Of Canada from C$39.00 to C$42.00 in a research note released on Wednesday,BayStreet reports. They currently have an outperform rating on the stock.

Several other analysts have also recently commented on PSK. National Bank Financial upped their target price on shares of PrairieSky Royalty from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research report on Tuesday, October 20th. BMO Capital Markets raised their price target on PrairieSky Royalty from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Tuesday. Raymond James Financial lifted their price objective on PrairieSky Royalty from C$39.00 to C$42.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Scotia upped their price objective on PrairieSky Royalty from C$36.00 to C$37.00 and gave the company a “sector perform” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PrairieSky Royalty currently has an average rating of “Moderate Buy” and a consensus target price of C$38.29.

PrairieSky Royalty Trading Down 0.1%

PSK opened at C$36.98 on Wednesday. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.75 and a quick ratio of 0.65. The company has a market cap of C$8.60 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The firm has a 50 day simple moving average of C$35.41 and a 200 day simple moving average of C$33.12. PrairieSky Royalty has a fifty-two week low of C$24.76 and a fifty-two week high of C$38.08.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings data on Monday, October 26th. The company reported C$0.36 earnings per share for the quarter. PrairieSky Royalty had a net margin of 47.60% and a return on equity of 10.96%. The business had revenue of C$165.00 million for the quarter.

PrairieSky Royalty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 15th were paid a $0.2650 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $1.06 annualized dividend and a dividend yield of 2.9%. PrairieSky Royalty’s dividend payout ratio (DPR) is currently 87.92%.

Insider Activity

In other PrairieSky Royalty news, insider Andrew Phillips bought 3,500 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average price of C$33.26 per share, for a total transaction of C$116,410.00. Following the completion of the acquisition, the insider owned 93,500 shares of the company’s stock, valued at C$3,109,810. This trade represents a 3.89% increase in their position. Also, insider Pamela Pearl Kazeil bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average cost of C$33.42 per share, with a total value of C$83,550.00. Following the transaction, the insider owned 3,220 shares of the company’s stock, valued at C$107,612.40. This represents a 347.22% increase in their position. Company insiders own 0.54% of the company’s stock.

PrairieSky Royalty Company Profile

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.