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 report issued on Tuesday morning, Zacks.com reports.

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

PrairieSky Royalty Price Performance

PSK stock opened at C$28.04 on Tuesday. 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 company has a market capitalization of C$6.70 billion, a PE ratio of 29.21, 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. The business’s fifty day moving average price is C$27.36 and its 200 day moving average price is C$26.99.

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

PrairieSky Royalty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.57%. PrairieSky Royalty’s 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.