PrairieSky Royalty (TSE:PSK) Price Target Raised to C$39.00

PrairieSky Royalty (TSE:PSK) had its price objective lifted by Royal Bank Of Canada from C$38.00 to C$39.00 in a report released on Wednesday morning,BayStreet reports. They currently have an outperform rating on the stock.

Separately, National Bank Financial upped their price objective on shares of PrairieSky Royalty from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$35.92.

PrairieSky Royalty Stock Performance

TSE PSK opened at C$36.69 on Wednesday. The business’s 50-day moving average price is C$35.31 and its 200 day moving average price is C$34.05. PrairieSky Royalty has a twelve month low of C$24.76 and a twelve month high of C$37.29. The company has a market capitalization of C$8.53 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 6.88.

PrairieSky Royalty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 15th were paid a dividend of $0.2650 per share. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $1.06 annualized dividend and a yield of 2.9%. PrairieSky Royalty’s payout ratio is 100.96%.

Insider Transactions at PrairieSky Royalty

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

About PrairieSky Royalty

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.