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

Key Points

• PrairieSky Royalty has a consensus analyst rating of “Moderate Buy”, with four buy ratings, one strong buy, and two hold ratings. The average 1-year target price is C$34.42.
• Shares were up 2.0% to C$34.30, near the stock’s 52-week high of C$35.89. The company also has a market cap of about C$7.97 billion and a dividend yield of 3.1%.
• Insider buying provided a positive signal, as Ian Charles Dundas purchased 7,500 shares at C$31.89 each, increasing his stake by 37.5%. PrairieSky recently paid a quarterly dividend of C$0.265 per share.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$34.42.

Several brokerages have issued reports on PSK. Royal Bank Of Canada upped their target price on PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an "outperform" rating in a research note on Wednesday. Raymond James Financial cut shares of PrairieSky Royalty from a "moderate buy" rating to a "hold" rating and upped their price objective for the company from C$35.00 to C$35.50 in a research note on Monday, March 30th. Finally, Roth Capital raised shares of PrairieSky Royalty to a "strong-buy" rating in a report on Thursday, April 30th.

Insider Buying and Selling at PrairieSky Royalty

In related news, insider Ian Charles Dundas bought 7,500 shares of the company's stock in a transaction that occurred on Friday, June 19th. The stock was bought at an average cost of C$31.89 per share, for a total transaction of C$239,175.00. Following the acquisition, the insider directly owned 27,500 shares of the company's stock, valued at C$876,975. The trade was a 37.50% increase in their position. Company insiders own 0.54% of the company's stock.

PrairieSky Royalty Trading Up 2.0%

Shares of PrairieSky Royalty stock opened at C$34.30 on Friday. The business has a fifty day simple moving average of C$33.31 and a 200-day simple moving average of C$31.44. PrairieSky Royalty has a fifty-two week low of C$23.32 and a fifty-two week high of C$35.89. The firm has a market cap of C$7.97 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 0.47 and a beta of 0.75. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 6.88.

PrairieSky Royalty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, June 30th. PrairieSky Royalty's dividend payout ratio (DPR) 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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