PrairieSky Royalty (TSE:PSK) Price Target Raised to C$33.00 at BMO Capital Markets

PrairieSky Royalty (TSE:PSK) had its price objective lifted by BMO Capital Markets from C$30.00 to C$33.00 in a research note published on Tuesday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.

PSK has been the topic of several other reports. CIBC downgraded PrairieSky Royalty from an outperform rating to a neutral rating and increased their price target for the stock from C$27.50 to C$31.00 in a report on Monday. Canaccord Genuity Group increased their price target on PrairieSky Royalty from C$24.75 to C$28.00 and gave the stock a hold rating in a report on Wednesday, April 17th. National Bankshares increased their price target on PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an outperform rating in a report on Friday, April 19th. ATB Capital increased their price target on PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a report on Wednesday, March 20th. Finally, Raymond James reduced their price target on PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating on the stock in a report on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of C$27.30.

PrairieSky Royalty Trading Down 1.5 %

Shares of PSK stock opened at C$27.04 on Tuesday. PrairieSky Royalty has a 1 year low of C$20.60 and a 1 year high of C$28.42. The company has a debt-to-equity ratio of 6.80, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s 50 day simple moving average is C$25.74 and its two-hundred day simple moving average is C$24.41. The company has a market cap of C$6.46 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last issued its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, topping the consensus estimate of C$0.22 by C$0.06. PrairieSky Royalty had a return on equity of 8.22% and a net margin of 47.46%. The firm had revenue of C$136.60 million for the quarter. Research analysts predict that PrairieSky Royalty will post 1.0488722 earnings per share for the current year.

PrairieSky Royalty Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.25 per share. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.70%. The ex-dividend date was Wednesday, March 27th. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 105.26%.

Insider Buying and Selling at PrairieSky Royalty

In related news, Director Glenn Mcnamara bought 12,800 shares of the company’s stock in a transaction 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. In related news, Director Glenn Mcnamara bought 12,800 shares of the company’s stock in a transaction 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 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. Insiders own 0.54% of the company’s stock.

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.