PrairieSky Royalty Ltd. (TSE:PSK) Receives C$29.29 Consensus Price Target from Brokerages

PrairieSky Royalty Ltd. (TSE:PSK) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$29.29.

PSK has been the subject of several research analyst reports. Raymond James Financial upped their price objective on PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a “market perform” rating in a report on Tuesday, July 15th. Scotiabank upped their price objective on PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Finally, Canaccord Genuity Group cut their price objective on PrairieSky Royalty from C$26.00 to C$25.00 and set a “hold” rating for the company in a report on Tuesday, July 15th.

PrairieSky Royalty Stock Up 0.2%

PSK opened at C$24.94 on Monday. PrairieSky Royalty has a 12 month low of C$21.97 and a 12 month high of C$30.66. The stock has a market cap of C$5.87 billion, a P/E ratio of 26.82, a P/E/G ratio of 0.47 and a beta of 0.80. The stock’s 50 day moving average price is C$24.74 and its 200 day moving average price is C$24.03. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65.

PrairieSky Royalty Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th were issued a $0.26 dividend. The ex-dividend date was Monday, September 29th. This represents a $1.04 annualized dividend and a dividend yield of 4.2%. PrairieSky Royalty’s dividend payout ratio is 109.68%.

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.