PrairieSky Royalty Ltd. (TSE:PSK) Stock Has Average Price Target of C$35.92 According to Brokerages

Key Points

• PrairieSky Royalty has a “Moderate Buy” consensus rating from seven analysts, with an average 12-month price target of C$35.92. Recent targets were raised to C$43 by National Bank Financial and C$39 by RBC.
• Company insiders recently purchased shares, including 3,500 shares bought by Andrew Phillips and 2,500 shares bought by Pamela Pearl Kazeil; insiders collectively own 0.54% of the company.
• PSK shares opened at C$36.69, near their 52-week high of C$37.29. PrairieSky also pays a quarterly dividend of C$0.265 per share, equivalent to an annualized yield of about 2.9%.

Shares of PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seven research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$35.92.

Several research analysts have recently issued reports on PSK shares. National Bank Financial raised their price objective on PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 20th. Royal Bank Of Canada increased their price target on shares of PrairieSky Royalty from C$38.00 to C$39.00 and gave the stock an "outperform" rating in a report on Wednesday.

Insiders Place Their Bets

In related news, insider Andrew Phillips purchased 3,500 shares of the business'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 transaction, the insider owned 93,500 shares of the company's stock, valued at approximately C$3,109,810. This trade represents a 3.89% increase in their ownership of the stock. Also, insider Pamela Pearl Kazeil bought 2,500 shares of the stock in a transaction dated Wednesday, August 5th. The stock was bought 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. The trade was a 347.22% increase in their ownership of the stock. Insiders own 0.54% of the company's stock.

PrairieSky Royalty Stock Performance

Shares of PSK stock opened at C$36.69 on Friday. The firm has a market capitalization of C$8.53 billion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The company has a debt-to-equity ratio of 6.88, a current ratio of 0.90 and a quick ratio of 0.65. The business has a fifty day moving average of C$35.31 and a 200 day moving average of C$34.05. PrairieSky Royalty has a 1 year low of C$24.76 and a 1 year high of C$37.29.

PrairieSky Royalty Announces Dividend

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

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.

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