PrairieSky Royalty (TSE:PSK) Upgraded to Strong-Buy by Atb Cap Markets

Atb Cap Markets upgraded shares of PrairieSky Royalty (TSE:PSK) from a hold rating to a strong-buy rating in a research report released on Tuesday, Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. National Bankshares upped their target price on PrairieSky Royalty from C$31.00 to C$33.00 in a report on Friday, September 27th. Scotiabank raised their target price on shares of PrairieSky Royalty from C$29.00 to C$31.00 in a research report on Friday, July 12th. ATB Capital upped their price target on shares of PrairieSky Royalty from C$28.50 to C$30.00 in a research report on Friday, July 19th. Royal Bank of Canada upgraded shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$31.00 to C$33.00 in a research note on Tuesday, September 17th. Finally, TD Securities reduced their price objective on shares of PrairieSky Royalty from C$26.00 to C$25.00 in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PrairieSky Royalty presently has an average rating of “Moderate Buy” and a consensus target price of C$30.20.

PrairieSky Royalty Stock Down 0.7 %

Shares of PSK opened at C$27.85 on Tuesday. The firm has a fifty day moving average price of C$27.39 and a 200-day moving average price of C$27.00. The company has a current ratio of 0.30, a quick ratio of 0.65 and a debt-to-equity ratio of 5.40. The firm has a market capitalization of C$6.66 billion, a P/E ratio of 29.01, a P/E/G ratio of 0.47 and a beta of 1.78. PrairieSky Royalty has a 12-month low of C$21.22 and a 12-month high of C$28.93.

PrairieSky Royalty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Friday, September 27th. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 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.