PrairieSky Royalty Ltd. (TSE:PSK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$34.42.

A number of brokerages have issued reports on PSK. Royal Bank Of Canada increased their target price on shares of PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Roth Capital upgraded PrairieSky Royalty to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Raymond James Financial downgraded PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and increased their price target for the stock from C$35.00 to C$35.50 in a research report on Monday, March 30th.

Insider Activity

In related news, insider Ian Charles Dundas bought 7,500 shares of PrairieSky Royalty stock in a transaction dated Friday, June 19th. The shares were bought at an average cost of C$31.89 per share, with a total value of C$239,175.00. Following the acquisition, the insider owned 27,500 shares in the company, valued at C$876,975. This trade represents a 37.50% increase in their position. Company insiders own 0.54% of the company’s stock.

PrairieSky Royalty Stock Performance

PSK opened at C$34.55 on Friday. The business has a fifty day simple moving average of C$33.37 and a 200 day simple moving average of C$31.60. The company has a market capitalization of C$8.03 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 0.47 and a beta of 0.75. PrairieSky Royalty has a 1 year low of C$23.32 and a 1 year high of C$35.89. The company has a debt-to-equity ratio of 6.88, a current ratio of 0.90 and a quick ratio of 0.65.

PrairieSky Royalty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio is presently 100.96%.

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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.