PrairieSky Royalty Ltd (PSK) Given Consensus Recommendation of “Buy” by Brokerages

PrairieSky Royalty Ltd (TSE:PSK) has received a consensus rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$34.60.

Several analysts have issued reports on the company. Canaccord Genuity lowered their target price on PrairieSky Royalty from C$36.00 to C$35.00 in a research note on Tuesday, February 27th. TD Securities upgraded PrairieSky Royalty from a “hold” rating to a “buy” rating and reduced their price target for the company from C$33.00 to C$32.00 in a research report on Thursday. CIBC lifted their price target on PrairieSky Royalty from C$36.00 to C$40.00 in a research report on Tuesday. GMP Securities upgraded PrairieSky Royalty from a “hold” rating to a “buy” rating and reduced their price target for the company from C$35.50 to C$34.00 in a research report on Thursday, March 1st. Finally, Raymond James Financial reduced their price target on PrairieSky Royalty from C$31.00 to C$30.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th.

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Shares of PSK stock traded down C$0.41 on Friday, hitting C$27.91. The company’s stock had a trading volume of 301,600 shares, compared to its average volume of 447,942. The company has a market capitalization of $6,310.00, a price-to-earnings ratio of 54.73 and a beta of 1.04. PrairieSky Royalty has a 52-week low of C$26.52 and a 52-week high of C$35.90.

The business also recently declared a monthly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 16th will be given a $0.065 dividend. The ex-dividend date is Wednesday, March 28th. This is a boost from PrairieSky Royalty’s previous monthly dividend of $0.06. This represents a $0.78 annualized dividend and a dividend yield of 2.79%. PrairieSky Royalty’s payout ratio is 146.08%.

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PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.

Analyst Recommendations for PrairieSky Royalty (TSE:PSK)

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