PrairieSky Royalty (TSE:PSK) Cut to Neutral at CIBC

CIBC lowered shares of PrairieSky Royalty (TSE:PSK) from an outperform rating to a neutral rating in a report issued on Monday, BayStreet.CA reports. They currently have C$31.00 target price on the stock, up from their prior target price of C$27.50.

PSK has been the subject of several other research reports. BMO Capital Markets set a C$30.00 price target on PrairieSky Royalty and gave the company an outperform rating in a report on Wednesday, March 13th. Canaccord Genuity Group raised their target price on PrairieSky Royalty from C$24.75 to C$28.00 and gave the stock a hold rating in a research note on Wednesday, April 17th. National Bankshares boosted their price target on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an outperform rating in a research report on Friday, April 19th. ATB Capital raised their price objective on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a sector perform rating in a research report on Wednesday, March 20th. Finally, Raymond James reduced their target price on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an outperform rating on the stock in a research note on Friday, January 19th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of C$27.30.

PrairieSky Royalty Trading Up 0.2 %

Shares of PSK opened at C$27.09 on Monday. The firm’s fifty day moving average is C$25.84 and its two-hundred day moving average is C$24.43. The stock has a market cap of C$6.47 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80. PrairieSky Royalty has a 52-week low of C$20.60 and a 52-week high of C$28.42.

PrairieSky Royalty (TSE:PSK) last posted its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.06. The firm had revenue of C$136.60 million for the quarter. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. Research analysts forecast that PrairieSky Royalty will post 1.0488722 earnings per share for the current fiscal year.

PrairieSky Royalty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.69%. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 27th. PrairieSky Royalty’s payout ratio is 105.26%.

Insider Transactions at PrairieSky Royalty

In related news, Director Leanne M. Bellegarde sold 6,650 shares of PrairieSky Royalty stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total value of C$171,437.00. In related news, Director Leanne M. Bellegarde sold 6,650 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$25.78, for a total transaction of C$171,437.00. Also, Director Glenn Mcnamara bought 12,800 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of C$23.28 per share, with a total value of C$297,999.36. Company insiders own 0.54% of the company’s stock.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.