PrairieSky Royalty (TSE:PSK) Upgraded to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of PrairieSky Royalty (TSE:PSK) from a sector perform rating to an outperform rating in a research report sent to investors on Tuesday morning, BayStreet.CA reports. They currently have C$33.00 price target on the stock, up from their prior price target of C$31.00.

Several other brokerages have also recently commented on PSK. Scotiabank raised their target price on PrairieSky Royalty from C$29.00 to C$31.00 in a research report on Friday, July 12th. ATB Capital lifted their price objective on PrairieSky Royalty from C$28.50 to C$30.00 in a report on Friday, July 19th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of C$29.17.

PrairieSky Royalty Stock Performance

Shares of PSK opened at C$27.52 on Tuesday. The company has a market capitalization of C$6.58 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 0.47 and a beta of 1.79. The company’s fifty day moving average price is C$27.18 and its 200 day moving average price is C$26.59. PrairieSky Royalty has a one year low of C$21.22 and a one year high of C$28.59. The company has a debt-to-equity ratio of 5.40, a current ratio of 0.30 and a quick ratio of 0.65.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings data on Monday, July 15th. The company reported C$0.25 earnings per share (EPS) for the quarter. The business had revenue of C$135.60 million for the quarter. PrairieSky Royalty had a net margin of 46.81% and a return on equity of 8.37%.

PrairieSky Royalty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.00 dividend on an annualized basis and a yield of 3.63%. PrairieSky Royalty’s payout ratio is 104.17%.

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.