PrairieSky Royalty Ltd (PSK) Cut to “Market Perform” at Raymond James Financial, Inc.
Raymond James Financial, Inc. lowered shares of PrairieSky Royalty Ltd (TSE:PSK) from an outperform rating to a market perform rating in a research note released on Tuesday morning. The brokerage currently has C$34.00 price objective on the stock.
Several other equities analysts also recently issued reports on PSK. Royal Bank Of Canada reduced their price objective on shares of PrairieSky Royalty from C$38.00 to C$34.00 in a research note on Thursday, July 20th. GMP Securities upped their price objective on shares of PrairieSky Royalty from C$30.00 to C$31.00 in a research note on Wednesday, July 26th. TD Securities downgraded shares of PrairieSky Royalty from a buy rating to a hold rating and reduced their price objective for the company from C$33.00 to C$32.00 in a research note on Monday, October 2nd. BMO Capital Markets upped their price objective on shares of PrairieSky Royalty from C$30.00 to C$35.00 in a research note on Tuesday, October 10th. Finally, National Bank Financial reduced their price objective on shares of PrairieSky Royalty from C$29.00 to C$28.00 and set a sector perform rating on the stock in a research note on Friday, October 13th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. PrairieSky Royalty presently has an average rating of Buy and a consensus target price of C$35.45.
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The business also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.0625 per share. This represents a $0.75 dividend on an annualized basis and a yield of Infinity. The ex-dividend date is Monday, October 30th.
About PrairieSky Royalty
PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.
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