PrairieSky Royalty Ltd (PSK) PT Raised to C$35.00 at Raymond James Financial, Inc.
PrairieSky Royalty Ltd (TSE:PSK) had its target price boosted by analysts at Raymond James Financial, Inc. from C$34.00 to C$35.00 in a research note issued to investors on Friday, StockTargetPrices.com reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial, Inc.’s price target would suggest a potential upside of 16.94% from the stock’s previous close.
Several other brokerages have also recently weighed in on PSK. TD Securities increased their target price on PrairieSky Royalty from C$33.00 to C$35.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Scotiabank reiterated a “sector perform” rating and issued a C$36.00 price objective on shares of PrairieSky Royalty in a report on Tuesday, February 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a C$34.00 price objective on shares of PrairieSky Royalty in a report on Tuesday, February 28th. GMP Securities dropped their price objective on PrairieSky Royalty from C$36.00 to C$35.00 in a report on Thursday, March 2nd. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a C$31.00 price objective on shares of PrairieSky Royalty in a report on Tuesday, April 25th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of C$34.80.
PrairieSky Royalty (TSE:PSK) traded up 1.15% on Friday, reaching $29.93. The company’s stock had a trading volume of 216,082 shares. The stock’s 50 day moving average price is $29.29 and its 200 day moving average price is $30.22. The firm has a market cap of $7.09 billion and a PE ratio of 176.06. PrairieSky Royalty has a 52-week low of $22.91 and a 52-week high of $34.32.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 15th will be given a dividend of $0.0625 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Friday, May 26th.
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In related news, insider Andrew Phillips acquired 10,000 shares of PrairieSky Royalty stock in a transaction that occurred on Thursday, March 9th. The stock was bought at an average price of C$28.08 per share, with a total value of C$280,800.00. Also, insider Cameron Maclean Proctor acquired 2,000 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, March 8th. The shares were bought at an average cost of C$28.38 per share, with a total value of C$56,760.00. In the last ninety days, insiders have purchased 12,023 shares of company stock valued at $338,242.
PrairieSky Royalty Company Profile
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. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 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 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.
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