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

Key Points

• Analysts hold a “Moderate Buy” consensus on PrairieSky Royalty, with four buy ratings, one strong-buy rating and two holds. The average 12-month price target is C$34.42.
• Recent analyst sentiment improved, including Roth Capital’s upgrade to “strong buy” and RBC’s increase of its price target from C$36.00 to C$38.00 with an “outperform” rating.
• PrairieSky paid a quarterly dividend of $0.265 per share, equivalent to an annualized $1.06 and a 3.1% yield; insiders also purchased 13,500 shares worth approximately $439,135 during the latest quarter.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$34.42.

Several analysts recently commented on the stock. Roth Capital upgraded shares of PrairieSky Royalty to a "strong-buy" rating in a research note on Thursday, April 30th. Royal Bank Of Canada upped 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 research report on Wednesday, July 15th.

PrairieSky Royalty Price Performance

Shares of TSE PSK opened at C$34.39 on Tuesday. The firm has a market capitalization of C$7.99 billion, a P/E ratio of 33.07, a PEG ratio of 0.47 and a beta of 0.73. PrairieSky Royalty has a one year low of C$23.43 and a one year high of C$35.89. The company's fifty day moving average is C$33.44 and its two-hundred day moving average is C$32.35. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.65 and a current ratio of 0.90.

PrairieSky Royalty Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.06 annualized dividend and a dividend yield of 3.1%. PrairieSky Royalty's payout ratio is 100.96%.

Insider Buying and Selling

In other news, insider Ian Charles Dundas acquired 7,500 shares of PrairieSky Royalty stock in a transaction that occurred on Friday, June 19th. The stock was purchased at an average cost of C$31.89 per share, with a total value of C$239,175.00. Following the completion of the acquisition, the insider owned 27,500 shares in the company, valued at C$876,975. This trade represents a 37.50% increase in their position. Also, insider Andrew Phillips bought 3,500 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were purchased at an average price of C$33.26 per share, for a total transaction of C$116,410.00. Following the completion of the transaction, the insider owned 93,500 shares of the company's stock, valued at C$3,109,810. This represents a 3.89% increase in their position. Insiders have bought a total of 13,500 shares of company stock worth $439,135 in the last quarter. Company insiders own 0.54% of the company's stock.

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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