PrairieSky Royalty Ltd (PSK) Receives Average Recommendation of “Buy” from Brokerages
PrairieSky Royalty Ltd (TSE:PSK) has received a consensus recommendation of “Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$35.45.
A number of analysts have recently weighed in on PSK shares. GMP Securities boosted their price objective on shares of PrairieSky Royalty from C$33.00 to C$35.50 in a research note on Wednesday, November 1st. BMO Capital Markets boosted their price objective on shares of PrairieSky Royalty from C$30.00 to C$35.00 in a research note on Tuesday, October 10th. Barclays boosted their price objective on shares of PrairieSky Royalty from C$28.00 to C$32.00 in a research note on Monday, October 30th. 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 for the company in a research note on Friday, October 13th. Finally, CIBC boosted their price objective on shares of PrairieSky Royalty from C$38.00 to C$40.00 in a research note on Tuesday, October 31st.
In other news, Director James Estey sold 100,000 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of C$32.82, for a total value of C$3,282,000.00. Also, Director Sheldon Brooks Steeves sold 7,714 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of C$35.62, for a total transaction of C$274,772.68.
Shares of PrairieSky Royalty (PSK) traded up C$0.18 during trading on Monday, hitting C$31.71. 286,667 shares of the stock were exchanged, compared to its average volume of 479,374. PrairieSky Royalty has a twelve month low of C$27.10 and a twelve month high of C$35.90. The firm has a market capitalization of $7,440.00, a PE ratio of 77.34 and a beta of 1.16.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, January 15th. Stockholders of record on Monday, January 15th will be paid a $0.0625 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Thursday, December 28th. PrairieSky Royalty’s dividend payout ratio is 179.88%.
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About PrairieSky Royalty
PrairieSky Royalty Ltd. engages in crude oil and natural gas businesses in Canada. The company holds royalty interests in properties located in Alberta, Saskatchewan, British Columbia, and Manitoba. It hold interests in approximately 7.8 million acres with petroleum and/or natural gas rights; and 6.7 million acres of GORR Lands.
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