PrairieSky Royalty Ltd. (TSE:PSK) Stock Has Consensus Target Price of C$34.42 According to Analysts

PrairieSky Royalty Ltd. (TSE:PSK) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$34.42.

Separately, Royal Bank Of Canada increased their price target on PrairieSky Royalty from C$36.00 to C$38.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th.

Insider Activity

In other news, insider Andrew Phillips purchased 3,500 shares of PrairieSky Royalty stock in a transaction dated Wednesday, August 5th. The shares were bought at an average cost of C$33.26 per share, for a total transaction of C$116,410.00. Following the completion of the acquisition, the insider owned 93,500 shares in the company, valued at approximately C$3,109,810. This trade represents a 3.89% increase in their position. Also, insider Pamela Pearl Kazeil acquired 2,500 shares of the stock in a transaction dated Wednesday, August 5th. The stock was purchased at an average cost of C$33.42 per share, with a total value of C$83,550.00. Following the purchase, the insider directly owned 3,220 shares of the company’s stock, valued at C$107,612.40. This trade represents a 347.22% increase in their ownership of the stock. 0.54% of the stock is currently owned by company insiders.

PrairieSky Royalty Price Performance

Shares of TSE:PSK opened at C$33.21 on Wednesday. PrairieSky Royalty has a one year low of C$24.51 and a one year high of C$37.29. The company has a debt-to-equity ratio of 6.88, a current ratio of 0.90 and a quick ratio of 0.65. The company has a market cap of C$7.72 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 0.47 and a beta of 0.82. The firm has a 50 day simple moving average of C$35.15 and a 200 day simple moving average of C$33.79.

PrairieSky Royalty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 15th will be issued a $0.2650 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 29th. PrairieSky Royalty’s dividend payout ratio is presently 100.96%.

About PrairieSky Royalty

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.