Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, natural gas liquids, and potash properties in Western Canada and the United States. The company holds approximately 6.2 million gross acres of land in Canada and 0.8 million gross drilling unit acres in the United States. It has royalty interests in approximately 15,000 producing wells and receives royalty from approximately 350 industry operators in North America. The company was founded in 1996 and is headquartered in Calgary, Canada.
Analyst Ratings Changes
FRU has been the subject of a number of analyst reports. Acumen Capital cut their price objective on shares of Freehold Royalties from C$21.00 to C$20.00 and set a "buy" rating for the company in a research report on Wednesday, May 11th. Raymond James lifted their target price on shares of Freehold Royalties from C$20.00 to C$21.00 and gave the company an "outperform" rating in a research report on Tuesday, July 5th. National Bankshares dropped their target price on shares of Freehold Royalties from C$22.00 to C$20.00 and set an "outperform" rating for the company in a research report on Monday, July 18th. CIBC dropped their target price on shares of Freehold Royalties from C$19.00 to C$18.00 and set a "neutral" rating for the company in a research report on Wednesday, August 10th. Finally, Cormark lifted their target price on shares of Freehold Royalties from C$19.00 to C$21.00 and gave the company a "buy" rating in a research report on Friday, July 8th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Freehold Royalties presently has an average rating of "Moderate Buy" and an average target price of C$18.69.
Freehold Royalties Trading Down 1.8 %
FRU Stock opened at C$13.84 on Tuesday. The company has a market capitalization of C$2.08 billion and a PE ratio of 12.70. Freehold Royalties has a one year low of C$8.15 and a one year high of C$17.00. The company's 50 day moving average price is C$13.69 and its two-hundred day moving average price is C$14.31. The company has a debt-to-equity ratio of 9.46, a quick ratio of 2.11 and a current ratio of 2.54.
Freehold Royalties Dividend Announcement
The company also recently announced a monthly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 15th were paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.94%. The ex-dividend date was Thursday, July 28th. Freehold Royalties's payout ratio is 68.81%.