PrairieSky Royalty Ltd. (TSE:PSK) Declares Quarterly Dividend of $0.26

Key Points

• PrairieSky Royalty Ltd. has declared a quarterly dividend of $0.26 per share, payable on October 15th to stockholders of record on September 29th, reflecting an annualized dividend yield of 4.3%.
• The stock's market cap is C$5.67 billion, and it has recently seen trading at C$24.10 with a PE ratio of 25.91.
• Analyst ratings for PrairieSky include two "Strong Buy," two "Buy," and four "Hold," with a consensus price target of C$29.86.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) declared a quarterly dividend on Monday, September 8th, RTT News reports. Stockholders of record on Monday, September 29th will be given a dividend of 0.26 per share on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 4.3%.

PrairieSky Royalty Price Performance

PSK traded down C$0.17 during trading on Monday, reaching C$24.10. The stock had a trading volume of 404,772 shares, compared to its average volume of 411,238. The stock has a market cap of C$5.67 billion, a PE ratio of 25.91, a PEG ratio of 0.47 and a beta of 0.73. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. PrairieSky Royalty has a one year low of C$21.97 and a one year high of C$30.66. The business has a 50-day moving average of C$23.89 and a 200-day moving average of C$24.15.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James Financial raised their price objective on shares of PrairieSky Royalty from C$28.00 to C$29.00 and gave the stock a "market perform" rating in a report on Tuesday, July 15th. Canaccord Genuity Group lowered their price objective on shares of PrairieSky Royalty from C$26.00 to C$25.00 and set a "hold" rating for the company in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$29.86.

PrairieSky Royalty Company Profile

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.

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