PrairieSky Royalty (TSE:PSK) Rating Increased to Outperform at National Bankshares

National Bankshares upgraded shares of PrairieSky Royalty (TSE:PSK) from a sector perform rating to an outperform rating in a report published on Tuesday,BayStreet.CA reports. National Bankshares currently has C$33.00 target price on the stock, up from their prior target price of C$32.00.

Other equities research analysts have also issued research reports about the company. Scotiabank lifted 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. Canaccord Genuity Group lowered their price objective on PrairieSky Royalty from C$26.00 to C$25.00 and set a “hold” rating on the stock in a report on Tuesday, July 15th. Finally, Raymond James Financial lifted 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$29.29.

PrairieSky Royalty Price Performance

Shares of TSE:PSK opened at C$25.23 on Tuesday. The company’s fifty day moving average price is C$24.83 and its 200 day moving average price is C$24.00. PrairieSky Royalty has a 12 month low of C$21.97 and a 12 month high of C$30.66. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65. The firm has a market capitalization of C$5.94 billion, a P/E ratio of 27.13, a P/E/G ratio of 0.47 and a beta of 0.80.

PrairieSky Royalty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 15th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, September 29th. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 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.