PrairieSky Royalty (TSE:PSK) Price Target Raised to C$18.50 at National Bankshares

PrairieSky Royalty (TSE:PSK) had its price target raised by National Bankshares from C$15.00 to C$18.50 in a research note released on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on PSK. Canaccord Genuity Group increased their price objective on PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a hold rating in a report on Wednesday. Raymond James decreased their price objective on 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. CIBC decreased their price objective on 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. ATB Capital increased their price objective on 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. Finally, BMO Capital Markets set a C$30.00 price objective on PrairieSky Royalty and gave the company an outperform rating in a report on Wednesday, March 13th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of C$26.13.

PrairieSky Royalty Stock Up 1.3 %

Shares of TSE:PSK opened at C$27.73 on Friday. The company has a fifty day moving average of C$25.55 and a 200-day moving average of C$24.37. The company has a market capitalization of C$6.63 billion, a PE ratio of 29.19, a price-to-earnings-growth 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 52-week low of C$20.44 and a 52-week high of C$28.42.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.22 by C$0.06. The company 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, equities analysts predict that PrairieSky Royalty will post 1.0488722 EPS for the current fiscal year.

PrairieSky Royalty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from PrairieSky Royalty’s previous quarterly dividend of $0.24. PrairieSky Royalty’s dividend payout ratio is 105.26%.

Insider Transactions at PrairieSky Royalty

In other news, Director Leanne M. Bellegarde sold 6,650 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total transaction of C$171,437.00. In other PrairieSky Royalty news, Director Glenn Mcnamara purchased 12,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 dated Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total transaction of C$171,437.00. Insiders own 0.54% of the company’s stock.

PrairieSky Royalty Company Profile

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.