PrairieSky Royalty Ltd. (TSE:PSK) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give PrairieSky Royalty a “Moderate Buy” consensus: Four analysts recommend buying, one strongly recommends buying, and two rate it a hold. The average 12-month price target is C$34.42, while RBC recently raised its target to C$38.00 with an “outperform” rating.
• Insiders recently increased their holdings through purchases totaling 6,000 shares, worth approximately C$199,960. Insiders collectively own 0.54% of the company.
• PrairieSky Royalty shares opened at C$33.01, down 1.3%, and the company announced a quarterly dividend of C$0.265 per share, equating to a 3.2% yield and a 100.96% payout ratio.

Shares of PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$34.42.

Separately, Royal Bank Of Canada raised their target price on shares of PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th.

Insider Buying and Selling

In related news, insider Andrew Phillips purchased 3,500 shares of the stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average cost of C$33.26 per share, for a total transaction of C$116,410.00. Following the acquisition, the insider directly owned 93,500 shares in the company, valued at approximately C$3,109,810. The trade was a 3.89% increase in their position. Also, insider Pamela Pearl Kazeil bought 2,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was purchased at an average price 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 approximately C$107,612.40. This represents a 347.22% increase in their ownership of the stock. Insiders own 0.54% of the company's stock.

PrairieSky Royalty Stock Down 1.3%

PrairieSky Royalty stock opened at C$33.01 on Wednesday. PrairieSky Royalty has a 52 week low of C$24.51 and a 52 week high of C$37.29. The stock has a market cap of C$7.67 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 0.47 and a beta of 0.73. The company's 50-day moving average price is C$35.27 and its two-hundred day moving average price is C$33.76. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.2650 per share. This represents a $1.06 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 29th. PrairieSky Royalty's payout ratio is 100.96%.

About PrairieSky Royalty

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.

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