PrairieSky Royalty Ltd (TSE:PSK) Receives Average Recommendation of “Hold” from Analysts
PrairieSky Royalty Ltd (TSE:PSK) has earned an average recommendation of “Buy” from the thirteen research firms that are covering the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$28.50.
A number of equities research analysts have commented on PSK shares. Barclays PLC raised their target price on shares of PrairieSky Royalty from C$26.00 to C$28.00 in a research note on Friday, July 22nd. BMO Capital Markets raised their target price on shares of PrairieSky Royalty from C$25.50 to C$27.00 in a report on Thursday, June 30th. Raymond James Financial Inc. lifted their price objective on shares of PrairieSky Royalty from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a research note on Monday, September 12th. Canaccord Genuity reaffirmed a “buy” rating and set a C$31.00 price objective on shares of PrairieSky Royalty in a research note on Monday, June 13th. Finally, AltaCorp Capital lowered shares of PrairieSky Royalty from an “outperform” rating to a “sector perform” rating in a research note on Thursday, July 7th.
Shares of PrairieSky Royalty (TSE:PSK) traded up 0.39% during midday trading on Monday, hitting $28.60. 260,143 shares of the stock were exchanged. The company has a market capitalization of $6.54 billion and a P/E ratio of 321.35. PrairieSky Royalty has a 1-year low of $17.15 and a 1-year high of $29.33. The firm has a 50-day moving average of $26.71 and a 200-day moving average of $25.39.
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The company also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 17th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.52%.
About PrairieSky Royalty
PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. The Company’s assets include the Fee Lands, encompassing approximately 8.8 million acres; the GORR Interests, encompassing approximately 6.6 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 40,010 kilometers of two dimensional seismic and over 10,760 square kilometers of three dimensional seismic.
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