Brokerages Set PrairieSky Royalty Ltd. (TSE:PSK) Target Price at C$30.80

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have earned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$30.80.

Several equities analysts recently weighed in on the company. TD Securities lifted their target price on PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. BMO Capital Markets lifted their price objective on PrairieSky Royalty from C$33.00 to C$34.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. Royal Bank of Canada raised shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$31.00 to C$33.00 in a report on Tuesday, September 17th. Raymond James raised shares of PrairieSky Royalty to a “hold” rating in a report on Thursday, October 17th. Finally, Atb Cap Markets raised shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th.

PrairieSky Royalty Trading Down 2.4 %

Shares of PrairieSky Royalty stock opened at C$29.52 on Friday. PrairieSky Royalty has a 1-year low of C$21.22 and a 1-year high of C$30.66. The company’s fifty day simple moving average is C$28.30 and its 200-day simple moving average is C$27.27. The company has a debt-to-equity ratio of 5.40, a current ratio of 0.30 and a quick ratio of 0.65. The stock has a market capitalization of C$7.06 billion, a PE ratio of 30.75, a P/E/G ratio of 0.47 and a beta of 1.78.

PrairieSky Royalty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.39%. PrairieSky Royalty’s payout ratio is 104.17%.

Insider Activity at PrairieSky Royalty

In other PrairieSky Royalty news, Senior Officer Daniel James Bertram purchased 7,670 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of C$28.20 per share, for a total transaction of C$216,290.93. 0.54% of the stock is owned by corporate insiders.

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.