PrairieSky Royalty (TSE:PSK) Given New C$28.50 Price Target at ATB Capital

PrairieSky Royalty (TSE:PSK) had its price target lifted by ATB Capital from C$27.00 to C$28.50 in a research note published on Tuesday morning, BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on the company. CIBC cut PrairieSky Royalty from an outperform rating to a neutral rating and increased their target price for the stock from C$27.50 to C$31.00 in a report on Monday. National Bankshares increased their target price 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. Royal Bank of Canada increased their target price on PrairieSky Royalty from C$26.00 to C$27.00 in a report on Tuesday. Canaccord Genuity Group increased their target price 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. Finally, BMO Capital Markets increased their target price on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a hold rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of C$27.30.

PrairieSky Royalty Stock Performance

Shares of PSK stock opened at C$27.04 on Tuesday. The company has a market cap of C$6.46 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a 52 week low of C$20.60 and a 52 week high of C$28.42. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80. The firm has a 50 day moving average of C$25.74 and a 200-day moving average of C$24.41.

PrairieSky Royalty (TSE:PSK) last issued its earnings results on Monday, February 12th. The company reported C$0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of C$136.60 million for the quarter. On average, equities analysts forecast that PrairieSky Royalty will post 1.0488722 earnings per share for the current year.

PrairieSky Royalty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.70%. 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. PrairieSky Royalty’s payout ratio is presently 105.26%.

Insider Transactions at PrairieSky Royalty

In other news, Director Leanne M. Bellegarde sold 6,650 shares of PrairieSky Royalty stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$25.78, for a total transaction of C$171,437.00. In other news, Director Leanne M. Bellegarde sold 6,650 shares of PrairieSky Royalty stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$25.78, for a total transaction of C$171,437.00. Also, Director Glenn Mcnamara bought 12,800 shares of the stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of C$23.28 per share, for a total transaction of C$297,999.36. Company 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.