Canaccord Genuity Group Raises PrairieSky Royalty (TSE:PSK) Price Target to C$28.00

PrairieSky Royalty (TSE:PSK) had its price objective upped by Canaccord Genuity Group from C$24.75 to C$28.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other brokerages have also recently commented on PSK. BMO Capital Markets set a C$30.00 price target on shares of PrairieSky Royalty and gave the stock an outperform rating in a research note on Wednesday, March 13th. National Bankshares cut their price target on shares of PrairieSky Royalty from C$28.00 to C$25.00 and set a sector perform rating for the company in a research note on Wednesday, January 10th. ATB Capital raised their price target on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a research note on Wednesday, March 20th. Raymond James cut their price target on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating for the company in a research note on Friday, January 19th. Finally, CIBC dropped their price objective 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. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, PrairieSky Royalty presently has a consensus rating of Moderate Buy and an average price target of C$26.13.

PrairieSky Royalty Stock Up 1.3 %

TSE PSK opened at C$27.73 on Wednesday. The stock has a market cap of C$6.63 billion, a PE ratio of 29.19, a PEG ratio of 0.47 and a beta of 1.81. The company has a debt-to-equity ratio of 6.80, a quick ratio of 0.65 and a current ratio of 0.65. PrairieSky Royalty has a twelve month low of C$20.44 and a twelve month high of C$28.42. The firm has a 50-day simple moving average of C$25.55 and a 200 day simple moving average of C$24.37.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings results on Monday, February 12th. The company reported C$0.28 EPS for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.06. The firm had revenue of C$136.60 million during the quarter. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. On average, research analysts forecast that PrairieSky Royalty will post 1.0488722 EPS for the current year.

PrairieSky Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.25 per share. This is a positive change from PrairieSky Royalty’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 3.61%. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 105.26%.

Insider Activity at PrairieSky Royalty

In related news, Director Glenn Mcnamara purchased 12,800 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average price of C$23.28 per share, with a total value of C$297,999.36. In related news, Director Glenn Mcnamara purchased 12,800 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average price of C$23.28 per share, with a total value of C$297,999.36. Also, Director Leanne M. Bellegarde sold 6,650 shares of the firm’s stock in a transaction that occurred 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. 0.54% of the stock is currently owned by company insiders.

About PrairieSky Royalty

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.