CIBC Lowers PrairieSky Royalty (TSE:PSK) to Neutral

CIBC downgraded shares of PrairieSky Royalty (TSE:PSK) from an outperform rating to a neutral rating in a research note released on Monday morning, BayStreet.CA reports. The brokerage currently has C$31.00 price objective on the stock, up from their prior price objective of C$27.50.

Several other equities analysts have also commented on the company. Canaccord Genuity Group upped their target price on PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a hold rating in a report on Wednesday, April 17th. Raymond James lowered their price objective on 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. ATB Capital raised their target price on PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a sector perform rating in a research note on Wednesday, March 20th. 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 report on Wednesday, March 13th. Finally, National Bankshares lifted their price objective on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an outperform rating in a research report on Friday, April 19th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of C$27.30.

PrairieSky Royalty Stock Up 0.2 %

PSK stock opened at C$27.09 on Monday. The firm has a market cap of C$6.47 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a 1-year low of C$20.60 and a 1-year high of C$28.42. The firm has a fifty day moving average price of C$25.84 and a two-hundred day moving average price of C$24.43. The company has a debt-to-equity ratio of 6.80, a current ratio of 0.65 and a quick ratio of 0.65.

PrairieSky Royalty (TSE:PSK) last posted its quarterly earnings results on Monday, February 12th. The company reported C$0.28 EPS for the quarter, beating the consensus estimate of C$0.22 by C$0.06. The business 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%. Research analysts predict that PrairieSky Royalty will post 1.0488722 EPS for the current year.

PrairieSky Royalty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.25 per share. This is a boost 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 3.69%. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 105.26%.

Insiders Place Their Bets

In other news, Director Leanne M. Bellegarde sold 6,650 shares of the 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 value of C$171,437.00. In other news, Director Leanne M. Bellegarde sold 6,650 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$25.78, for a total value of C$171,437.00. Also, Senior Officer Andrew Phillips bought 3,800 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average cost of C$26.72 per share, with a total value of C$101,536.00. 0.54% of the stock is owned by 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.