PrairieSky Royalty Ltd (TSE:PSK) to Issue Monthly Dividend of $0.07

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PrairieSky Royalty Ltd (TSE:PSK) declared a monthly dividend on Tuesday, September 10th, Zacks reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.065 per share on Tuesday, October 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Friday, September 27th.

PSK stock traded down C$0.12 during trading on Thursday, reaching C$18.40. The company had a trading volume of 125,885 shares, compared to its average volume of 427,086. The firm has a 50-day simple moving average of C$16.95 and a 200-day simple moving average of C$18.22. The company has a market cap of $4.10 billion and a price-to-earnings ratio of 40.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.91 and a current ratio of 0.94. PrairieSky Royalty has a twelve month low of C$15.71 and a twelve month high of C$24.22.

PrairieSky Royalty (TSE:PSK) last released its earnings results on Monday, July 22nd. The company reported C$0.19 EPS for the quarter. The company had revenue of C$69.30 million during the quarter, compared to analyst estimates of C$73.90 million. Sell-side analysts expect that PrairieSky Royalty will post 0.32 earnings per share for the current year.

A number of analysts recently commented on PSK shares. National Bank Financial lifted their target price on shares of PrairieSky Royalty from C$17.50 to C$18.50 in a research note on Tuesday, July 23rd. Royal Bank of Canada lowered their target price on shares of PrairieSky Royalty from C$26.00 to C$24.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. GMP Securities lowered their target price on shares of PrairieSky Royalty from C$22.25 to C$22.00 in a research note on Wednesday, July 24th. CIBC lowered their target price on shares of PrairieSky Royalty from C$23.00 to C$21.00 in a research note on Thursday, July 18th. Finally, Raymond James reiterated a “market perform” rating and issued a C$20.00 target price on shares of PrairieSky Royalty in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. PrairieSky Royalty presently has a consensus rating of “Hold” and a consensus price target of C$22.16.

About PrairieSky Royalty

PrairieSky Royalty Ltd. holds crude oil and natural gas royalty interests in Alberta, Saskatchewan, British Columbia, and Manitoba of Canada. It hold interests in approximately 7.8 million acres with petroleum and/or natural gas rights; 1.1 million acres with coal titles; 7.8 million acres of gross overriding royalty interests; and other acreage.

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Dividend History for PrairieSky Royalty (TSE:PSK)

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