PrairieSky Royalty (TSE:PSK - Free Report) had its target price raised by Canaccord Genuity Group from C$24.75 to C$28.00 in a research report report published on Wednesday, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.
PSK has been the subject of several other research reports. ATB Capital upped their target price on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a sector perform rating in a report on Wednesday, March 20th. National Bankshares lowered their target price on shares of PrairieSky Royalty from C$28.00 to C$25.00 and set a sector perform rating for the company in a report on Wednesday, January 10th. CIBC lowered their target price on shares of PrairieSky Royalty from C$29.50 to C$27.50 and set an outperform rating for the company in a report on Tuesday, January 16th. Raymond James lowered their target price on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating for the company in a report on Friday, January 19th. Finally, BMO Capital Markets set a C$30.00 target price on shares of PrairieSky Royalty and gave the company an outperform rating in a report on Wednesday, March 13th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of C$26.78.
Read Our Latest Report on PrairieSky Royalty
PrairieSky Royalty Stock Down 0.5 %
TSE:PSK traded down C$0.13 during mid-day trading on Wednesday, hitting C$27.54. The stock had a trading volume of 166,365 shares, compared to its average volume of 290,818. The stock has a 50-day simple moving average of C$25.33 and a two-hundred day simple moving average of C$24.32. The company has a market capitalization of C$6.58 billion, a PE ratio of 28.99, a PEG ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a twelve month low of C$20.41 and a twelve month high of C$28.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 6.80.
PrairieSky Royalty (TSE:PSK - Get Free Report) last issued its earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, beating the consensus estimate of C$0.22 by C$0.06. The firm had revenue of C$136.60 million for the quarter. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. On average, equities research analysts anticipate that PrairieSky Royalty will post 1.0488722 EPS for the current year.
PrairieSky Royalty Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.25 dividend. This is an increase from PrairieSky Royalty's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 3.63%. PrairieSky Royalty's dividend payout ratio is 105.26%.
Insider Activity at PrairieSky Royalty
In related news, Director Leanne M. Bellegarde sold 6,650 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total value of C$171,437.00. In other PrairieSky Royalty news, Director Leanne M. Bellegarde sold 6,650 shares of the company's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total transaction of C$171,437.00. Also, Director Glenn Mcnamara acquired 12,800 shares of the business's stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of C$23.28 per share, with a total value of C$297,999.36. 0.54% of the stock is owned by insiders.
About PrairieSky Royalty
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PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.
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