PrairieSky Royalty (TSE:PSK) Announces Quarterly Earnings Results

PrairieSky Royalty (TSE:PSK) posted its quarterly earnings data on Monday. The company reported C$0.36 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$165.00 million during the quarter. PrairieSky Royalty had a net margin of 44.86% and a return on equity of 9.48%.

PrairieSky Royalty Price Performance

Shares of TSE PSK traded up C$0.01 during mid-day trading on Monday, reaching C$36.70. The company had a trading volume of 292,823 shares, compared to its average volume of 494,269. The firm has a market cap of C$8.53 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 0.47 and a beta of 0.82. The business’s 50-day simple moving average is C$35.31 and its 200 day simple moving average is C$34.06. PrairieSky Royalty has a one year low of C$24.76 and a one year high of C$37.29. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.65 and a current ratio of 0.90.

PrairieSky Royalty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 15th were given a $0.2650 dividend. The ex-dividend date was Tuesday, September 29th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.9%. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 100.96%.

Analyst Ratings Changes

Several brokerages have recently commented on PSK. National Bank Financial raised their target price on shares of PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a report on Tuesday, October 20th. Royal Bank Of Canada lifted their price target on shares of PrairieSky Royalty from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$35.92.

Insider Activity

In other news, insider Pamela Pearl Kazeil acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average price of C$33.42 per share, with a total value of C$83,550.00. Following the completion of the transaction, the insider directly owned 3,220 shares of the company’s stock, valued at C$107,612.40. This trade represents a 347.22% increase in their position. Also, insider Andrew Phillips acquired 3,500 shares of PrairieSky Royalty stock in a transaction on Wednesday, August 5th. The shares were purchased at an average price of C$33.26 per share, for a total transaction of C$116,410.00. Following the completion of the purchase, the insider directly owned 93,500 shares of the company’s stock, valued at approximately C$3,109,810. This represents a 3.89% increase in their ownership of the stock. Corporate insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.