PrairieSky Royalty Ltd. (TSE:PSK) Given Average Rating of “Moderate Buy” by Brokerages

PrairieSky Royalty Ltd. (TSE:PSKGet Free Report) has earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$34.42.

Separately, Royal Bank Of Canada raised their price target on PrairieSky Royalty from C$36.00 to C$38.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th.

Check Out Our Latest Research Report on PrairieSky Royalty

Insider Activity at PrairieSky Royalty

In other news, insider Ian Charles Dundas bought 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 19th. The shares were purchased at an average price of C$31.89 per share, for a total transaction of C$239,175.00. Following the completion of the transaction, the insider owned 27,500 shares in the company, valued at C$876,975. The trade was a 37.50% increase in their ownership of the stock. Also, insider Pamela Pearl Kazeil bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were purchased at an average price of C$33.42 per share, for a total transaction of C$83,550.00. Following the transaction, the insider owned 3,220 shares of the company’s stock, valued at C$107,612.40. The trade was a 347.22% increase in their position. In the last quarter, insiders bought 13,500 shares of company stock valued at $439,135. 0.54% of the stock is owned by insiders.

PrairieSky Royalty Stock Performance

Shares of PSK opened at C$36.31 on Friday. The stock has a market capitalization of C$8.44 billion, a P/E ratio of 34.91, a P/E/G ratio of 0.47 and a beta of 0.73. 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 has a 1 year low of C$24.04 and a 1 year high of C$37.29. The company’s fifty day moving average is C$34.47 and its two-hundred day moving average is C$33.22.

PrairieSky Royalty Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio is 100.96%.

About PrairieSky Royalty

(Get Free Report)

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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.

Further Reading

Analyst Recommendations for PrairieSky Royalty (TSE:PSK)

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