PrairieSky Royalty (TSE:PSK) Downgraded by CIBC to Neutral

CIBC lowered shares of PrairieSky Royalty (TSE:PSK) from an outperform rating to a neutral rating in a research note released on Monday morning, BayStreet.CA reports. They currently have C$31.00 price target on the stock, up from their previous price target of C$27.50.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets set a C$30.00 target price on shares of PrairieSky Royalty and gave the stock an outperform rating in a research report on Wednesday, March 13th. Raymond James decreased their target price on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating for the company in a research report on Friday, January 19th. ATB Capital upped their price target on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a research note on Wednesday, March 20th. National Bankshares upped their price target on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an outperform rating in a research note on Friday. Finally, Canaccord Genuity Group upped their price target on shares of PrairieSky Royalty from C$24.75 to C$28.00 and gave the stock a hold rating in a research note on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of C$26.48.

PrairieSky Royalty Stock Down 1.0 %

PSK stock opened at C$27.45 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80. The firm’s 50-day simple moving average is C$25.65 and its 200 day simple moving average is C$24.39. The stock has a market cap of C$6.56 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a fifty-two week low of C$20.60 and a fifty-two week high of C$28.42.

PrairieSky Royalty (TSE:PSK) last posted its earnings results on Monday, February 12th. The company reported C$0.28 EPS for the quarter, topping the consensus estimate of C$0.22 by C$0.06. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. The firm had revenue of C$136.60 million during the quarter. As a group, sell-side analysts predict that PrairieSky Royalty will post 1.0488722 EPS for the current year.

PrairieSky Royalty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from PrairieSky Royalty’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.64%. PrairieSky Royalty’s dividend payout ratio is currently 105.26%.

Insider Activity at PrairieSky Royalty

In related news, Director Leanne M. Bellegarde sold 6,650 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total transaction of C$171,437.00. In other news, Director Glenn Mcnamara purchased 12,800 shares of PrairieSky Royalty stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average price of C$23.28 per share, for a total transaction of C$297,999.36. Also, Director Leanne M. Bellegarde sold 6,650 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total transaction of C$171,437.00. Company insiders own 0.54% of the company’s stock.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.