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

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have received an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$30.80.

PSK has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on PrairieSky Royalty from C$33.00 to C$34.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Atb Cap Markets upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada upgraded shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$31.00 to C$33.00 in a report on Tuesday, September 17th. TD Securities increased their price objective on PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Finally, Raymond James upgraded shares of PrairieSky Royalty to a “hold” rating in a research note on Thursday, October 17th.

Insiders Place Their Bets

In other news, Senior Officer Daniel James Bertram acquired 7,670 shares of PrairieSky Royalty stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of C$28.20 per share, with a total value of C$216,290.93. 0.54% of the stock is owned by corporate insiders.

PrairieSky Royalty Trading Up 2.3 %

Shares of PSK stock opened at C$30.30 on Friday. PrairieSky Royalty has a 1-year low of C$21.22 and a 1-year high of C$30.31. The firm has a market cap of C$7.24 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a 50-day moving average of C$27.99 and a two-hundred day moving average of C$27.18. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 3.30%. The ex-dividend date of this dividend was Friday, September 27th. PrairieSky Royalty’s payout ratio is currently 104.17%.

About PrairieSky Royalty

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.