Atb Cap Markets upgraded shares of PrairieSky Royalty (TSE:PSK – Free Report) 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
PrairieSky Royalty (TSE:PSK – Get Free Report) 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.
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