PrairieSky Royalty (TSE:PSK) Upgraded at Natl Bk Canada

Natl Bk Canada upgraded shares of PrairieSky Royalty (TSE:PSK) from a hold rating to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

PSK has been the subject of several other reports. Raymond James Financial lifted their price objective on shares of PrairieSky Royalty from C$29.00 to C$30.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 22nd. National Bankshares upgraded PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$32.00 to C$33.00 in a research note on Tuesday, October 21st. Finally, Scotiabank upped their price objective on PrairieSky Royalty from C$28.00 to C$29.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$28.67.

PrairieSky Royalty Stock Down 0.8%

PSK stock opened at C$27.84 on Wednesday. The company’s 50 day moving average price is C$25.98 and its 200 day moving average price is C$24.66. The firm has a market capitalization of C$6.48 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 0.47 and a beta of 0.68. PrairieSky Royalty has a fifty-two week low of C$21.97 and a fifty-two week high of C$29.51. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63.

PrairieSky Royalty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $1.04 annualized dividend and a dividend yield of 3.7%. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 110.75%.

About PrairieSky Royalty

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas.