PrairieSky Royalty (TSE:PSK) Downgraded by Royal Bank of Canada

Royal Bank of Canada cut shares of PrairieSky Royalty (TSE:PSK) from an outperform rating to a sector perform rating in a report released on Tuesday morning, Price Targets.com reports. The brokerage currently has C$15.00 target price on the stock.

Other analysts have also issued reports about the stock. Tudor Pickering reissued a hold rating and issued a C$12.00 price objective on shares of PrairieSky Royalty in a research report on Tuesday, February 9th. Tudor Pickering & Holt set a C$12.00 price objective on PrairieSky Royalty and gave the stock a hold rating in a research report on Tuesday, February 9th. BMO Capital Markets increased their price objective on shares of PrairieSky Royalty from C$13.00 to C$18.00 and gave the company a na rating in a research report on Monday, March 15th. Eight Capital lifted their price objective on shares of PrairieSky Royalty from C$10.40 to C$18.50 and gave the stock a buy rating in a research note on Friday, March 12th. Finally, Scotiabank increased their price objective on PrairieSky Royalty from C$12.50 to C$15.00 in a report on Thursday, April 15th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of C$15.14.

TSE PSK opened at C$13.01 on Tuesday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.39 and a current ratio of 0.40. The stock has a 50 day simple moving average of C$13.83 and a two-hundred day simple moving average of C$11.19. The stock has a market cap of C$2.91 billion and a P/E ratio of 94.28. PrairieSky Royalty has a fifty-two week low of C$7.83 and a fifty-two week high of C$14.68.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings data on Monday, February 8th. The company reported C$0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.05 by C$0.01. The company had revenue of C$47.00 million for the quarter. Sell-side analysts predict that PrairieSky Royalty will post 0.35 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Thursday, April 15th were given a $0.065 dividend. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $0.26 annualized dividend and a dividend yield of 2.00%. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.06. PrairieSky Royalty’s payout ratio is presently 271.74%.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd. holds crude oil and natural gas royalty interests in Alberta, Saskatchewan, British Columbia, and Manitoba of Canada. It hold interests in approximately 7.8 million acres with petroleum and/or natural gas rights; 7.5 million acres of gross overriding royalty interests; and approximately 0.2 million acres of the GRT interest.

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Analyst Recommendations for PrairieSky Royalty (TSE:PSK)

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