PrairieSky Royalty Ltd. (TSE:PSK) Stock Has Average Target Price of C$34.42

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$34.42.

Separately, Royal Bank Of Canada raised 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 note on Wednesday, July 15th.

PrairieSky Royalty Stock Up 0.7%

TSE PSK opened at C$33.31 on Wednesday. PrairieSky Royalty has a 52 week low of C$24.51 and a 52 week high of C$37.29. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 6.88. The company has a market capitalization of C$7.74 billion, a P/E ratio of 32.03, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The stock’s 50-day moving average price is C$35.10 and its 200-day moving average price is C$33.80.

PrairieSky Royalty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 15th will be paid a $0.2650 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.2%. PrairieSky Royalty’s dividend payout ratio is 100.96%.

Insider Buying and Selling at PrairieSky Royalty

In other news, insider Pamela Pearl Kazeil acquired 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were purchased at an average cost of C$33.42 per share, for a total transaction of C$83,550.00. Following the transaction, the insider directly owned 3,220 shares of the company’s stock, valued at approximately C$107,612.40. This trade represents a 347.22% increase in their ownership of the stock. Also, insider Andrew Phillips bought 3,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were purchased at an average price of C$33.26 per share, for a total transaction of C$116,410.00. Following the purchase, the insider owned 93,500 shares in the company, valued at C$3,109,810. This represents a 3.89% increase in their position. 0.54% of the stock is owned by company insiders.

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.