PrairieSky Royalty Ltd. (TSE:PSK) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• PrairieSky Royalty Ltd. has received an average rating of "Moderate Buy" from seven research firms, with a target price of C$29.29 for the stock.
• The company's stock recently opened at C$24.87 and reported a quarterly dividend of $0.26 per share, yielding 4.2% annually.
• PrairieSky has a market capitalization of C$5.86 billion and a debt-to-equity ratio of 3.48, indicating significant leverage in its financial structure.

Shares of PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) have received an average rating of "Moderate Buy" from the seven research firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$29.29.

A number of research firms have weighed in on PSK. Scotiabank upped their target price on PrairieSky Royalty from C$28.00 to C$29.00 and gave the stock a "sector perform" rating in a report on Thursday. Canaccord Genuity Group lowered their target price on 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. Finally, Raymond James Financial upped their target price on 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.

PrairieSky Royalty Stock Down 1.9%

Shares of TSE PSK opened at C$24.87 on Monday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. The firm has a market capitalization of C$5.86 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 0.47 and a beta of 0.80. The stock has a 50 day moving average price of C$24.66 and a 200 day moving average price of C$24.03. PrairieSky Royalty has a 52-week low of C$21.97 and a 52-week high of C$30.66.

PrairieSky Royalty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, September 29th. This represents a $1.04 dividend on an annualized basis and a yield of 4.2%. PrairieSky Royalty's dividend payout ratio is currently 109.68%.

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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