PrairieSky Royalty (TSE:PSK) Reaches New 12-Month High – Should You Buy?

PrairieSky Royalty Ltd. (TSE:PSK) shares reached a new 52-week high on Tuesday. The stock traded as high as C$37.37 and last traded at C$37.37, with a volume of 13,522 shares changing hands. The stock had previously closed at C$36.70.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSK. Royal Bank Of Canada boosted their target price on shares of PrairieSky Royalty from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. National Bank Financial raised their price target on PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$35.92.

PrairieSky Royalty Stock Up 2.6%

The firm has a market capitalization of C$8.75 billion, a P/E ratio of 36.21, a P/E/G ratio of 0.47 and a beta of 0.82. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 6.88. The company has a 50 day simple moving average of C$35.28 and a two-hundred day simple moving average of C$32.85.

PrairieSky Royalty (TSE:PSK) last issued its quarterly earnings data on Monday, October 26th. The company reported C$0.36 earnings per share for the quarter. The firm had revenue of C$165.00 million during the quarter. PrairieSky Royalty had a return on equity of 9.48% and a net margin of 44.86%.

PrairieSky Royalty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 15th were paid a $0.2650 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, September 29th. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 100.96%.

Insider Transactions at PrairieSky Royalty

In other PrairieSky Royalty news, insider Pamela Pearl Kazeil bought 2,500 shares of PrairieSky Royalty stock in a transaction dated Wednesday, August 5th. The shares were purchased at an average cost of C$33.42 per share, for a total transaction of C$83,550.00. Following the acquisition, 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 position. Also, insider Andrew Phillips bought 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average price of C$33.26 per share, for a total transaction of C$116,410.00. Following the completion of the transaction, the insider directly owned 93,500 shares in the company, valued at approximately C$3,109,810. This represents a 3.89% increase in their position. Insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

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.