Shares of PrairieSky Royalty Ltd. (TSE:PSK – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$34.42.
Separately, Royal Bank Of Canada boosted their price objective on shares of PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th.
Read Our Latest Research Report on PrairieSky Royalty
PrairieSky Royalty Price Performance
PrairieSky Royalty Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 15th will be given a $0.2650 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.2%. PrairieSky Royalty’s payout ratio is presently 100.96%.
Insider Activity
In other PrairieSky Royalty news, insider Andrew Phillips purchased 3,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was acquired at an average price of C$33.26 per share, with a total value of C$116,410.00. Following the transaction, the insider directly owned 93,500 shares of the company’s stock, valued at approximately C$3,109,810. This trade represents a 3.89% increase in their position. 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 acquired at an average price of C$33.42 per share, with a total value of C$83,550.00. Following the acquisition, the insider owned 3,220 shares of the company’s stock, valued at C$107,612.40. This represents a 347.22% increase in their ownership of the stock. Corporate insiders own 0.54% of the company’s stock.
PrairieSky Royalty Company Profile
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.
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