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

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

PSK has been the subject of several other research reports. Scotiabank lifted their price objective on PrairieSky Royalty from C$29.00 to C$31.00 in a research note on Friday, July 12th. ATB Capital boosted their target price on PrairieSky Royalty from C$28.50 to C$30.00 in a research note on Friday, July 19th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, PrairieSky Royalty has a consensus rating of Hold and a consensus price target of C$29.17.

PrairieSky Royalty Stock Performance

TSE PSK opened at C$28.12 on Tuesday. The company has a market cap of C$6.72 billion, a P/E ratio of 29.29, a P/E/G ratio of 0.47 and a beta of 1.79. The company has a debt-to-equity ratio of 5.40, a current ratio of 0.30 and a quick ratio of 0.65. The stock has a 50-day moving average of C$27.25 and a two-hundred day moving average of C$26.64. PrairieSky Royalty has a 1-year low of C$21.22 and a 1-year high of C$28.59.

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

PrairieSky Royalty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Friday, September 27th. PrairieSky Royalty’s dividend payout ratio is currently 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.