PrairieSky Royalty Ltd. (TSE:PSK) Given Average Recommendation of “Moderate Buy” by Brokerages

PrairieSky Royalty Ltd. (TSE:PSK) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently 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 issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is C$34.42.

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

PrairieSky Royalty Stock Up 2.0%

PSK stock opened at C$35.35 on Friday. The company has a market capitalization of C$8.22 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 0.47 and a beta of 0.75. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 6.88. PrairieSky Royalty has a 52 week low of C$23.32 and a 52 week high of C$35.89. The firm’s 50-day moving average is C$33.42 and its two-hundred day moving average is C$31.71.

PrairieSky Royalty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio is presently 100.96%.

Insider Activity at PrairieSky Royalty

In related news, insider Ian Charles Dundas bought 7,500 shares of PrairieSky Royalty stock in a transaction that occurred on Friday, June 19th. The stock was acquired at an average price of C$31.89 per share, for a total transaction of C$239,175.00. Following the completion of the purchase, the insider owned 27,500 shares in the company, valued at approximately C$876,975. This represents a 37.50% increase in their ownership of the stock. Corporate insiders own 0.54% of the company’s stock.

PrairieSky Royalty Company Profile

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.