PrairieSky Royalty Ltd (PSK) Given New C$29.00 Price Target at RBC Capital Markets
PrairieSky Royalty Ltd (TSE:PSK) had its price target hoisted by equities research analysts at RBC Capital Markets from C$28.00 to C$29.00 in a research note issued to investors on Thursday. RBC Capital Markets’ price objective points to a potential upside of 1.75% from the stock’s current price.
Several other equities research analysts also recently weighed in on the company. Barclays PLC upped their target price on PrairieSky Royalty from C$28.00 to C$29.00 in a research report on Tuesday. Raymond James Financial Inc. upped their target price on PrairieSky Royalty from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Monday, September 12th. FirstEnergy Capital raised PrairieSky Royalty from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 28th. TD Securities reaffirmed a “buy” rating and issued a C$31.00 target price on shares of PrairieSky Royalty in a research report on Tuesday, July 26th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a C$28.00 target price on shares of PrairieSky Royalty in a research report on Tuesday, July 26th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of C$27.92.
PrairieSky Royalty (TSE:PSK) traded up 0.18% during midday trading on Thursday, reaching $28.55. The company’s stock had a trading volume of 239,260 shares. The stock’s 50 day moving average is $26.82 and its 200 day moving average is $25.45. The stock has a market cap of $6.53 billion and a P/E ratio of 320.79. PrairieSky Royalty has a 12-month low of $17.15 and a 12-month high of $28.95.
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The company also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 17th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 2.53%. The ex-dividend date is Wednesday, September 28th.
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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