PrairieSky Royalty (TSE:PSK) Price Target Raised to C$33.00 at BMO Capital Markets

PrairieSky Royalty (TSE:PSK) had its price target hoisted by BMO Capital Markets from C$30.00 to C$33.00 in a research note published on Tuesday, BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other research analysts have also issued reports on the company. Raymond James reduced their price target on 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 boosted their price target on PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a research report on Wednesday, March 20th. National Bankshares boosted their price target on PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an outperform rating in a research report on Friday, April 19th. Canaccord Genuity Group boosted their price objective on 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. Finally, CIBC downgraded PrairieSky Royalty from an outperform rating to a neutral rating and boosted their price objective for the stock from C$27.50 to C$31.00 in a research note on Monday, April 22nd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of C$27.30.

PrairieSky Royalty Price Performance

Shares of PSK opened at C$26.97 on Tuesday. The firm has a market cap of C$6.45 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 0.47 and a beta of 1.81. The stock has a 50 day moving average of C$25.98 and a 200-day moving average of C$24.46. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 6.80. PrairieSky Royalty has a 52 week low of C$20.69 and a 52 week high of C$28.42.

PrairieSky Royalty (TSE:PSK) last issued 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 return on equity of 8.22% and a net margin of 47.46%. The company had revenue of C$136.60 million during the quarter. As a group, analysts forecast that PrairieSky Royalty will post 1.0488722 EPS for the current year.

PrairieSky Royalty Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 3.71%. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. PrairieSky Royalty’s payout ratio is 105.26%.

Insider Buying and Selling at PrairieSky Royalty

In other news, Director Glenn Mcnamara bought 12,800 shares of the stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of C$23.28 per share, for a total transaction of C$297,999.36. In related news, Senior Officer Andrew Phillips purchased 3,800 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was bought at an average price of C$26.72 per share, for a total transaction of C$101,536.00. Also, Director Glenn Mcnamara purchased 12,800 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were bought at an average price of C$23.28 per share, with a total value of C$297,999.36. Corporate insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

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.