PrairieSky Royalty (TSE:PSK) Price Target Raised to C$43.00

PrairieSky Royalty (TSE:PSK) had its price objective lifted by National Bank Financial from C$42.00 to C$43.00 in a research report sent to investors on Tuesday morning,BayStreet reports. National Bank Financial currently has an outperform rating on the stock.

Separately, Royal Bank Of Canada upped their target price on shares of PrairieSky Royalty from C$36.00 to C$38.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, PrairieSky Royalty currently has a consensus rating of “Moderate Buy” and a consensus target price of C$35.92.

PrairieSky Royalty Price Performance

TSE PSK opened at C$36.31 on Tuesday. PrairieSky Royalty has a 52 week low of C$24.76 and a 52 week high of C$37.29. The firm has a market capitalization of C$8.44 billion, a P/E ratio of 34.91, a PEG ratio of 0.47 and a beta of 0.82. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 6.88. The company has a 50-day moving average price of C$35.28 and a 200-day moving average price of C$34.03.

PrairieSky Royalty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 15th were paid a $0.2650 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $1.06 annualized dividend and a dividend yield of 2.9%. PrairieSky Royalty’s dividend payout ratio (DPR) is 100.96%.

Insider Activity

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

PrairieSky Royalty Company Profile

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.