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 morning, BayStreet.CA reports. They currently have C$33.00 target price on the stock, up from their previous target price of C$31.00.

A number of other research analysts have also weighed in on the company. Scotiabank boosted their target price on PrairieSky Royalty from C$29.00 to C$31.00 in a report on Friday, July 12th. ATB Capital upped their price objective on PrairieSky Royalty from C$28.50 to C$30.00 in a report on Friday, July 19th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, PrairieSky Royalty currently has a consensus rating of Hold and a consensus target price of C$29.17.

PrairieSky Royalty Trading Up 2.7 %

Shares of PrairieSky Royalty stock opened at C$27.52 on Tuesday. PrairieSky Royalty has a 12-month low of C$21.22 and a 12-month high of C$28.59. The stock has a market cap of C$6.58 billion, a P/E ratio of 28.67, a P/E/G ratio of 0.47 and a beta of 1.79. The company has a quick ratio of 0.65, a current ratio of 0.30 and a debt-to-equity ratio of 5.40. The business’s 50 day moving average is C$27.18 and its 200-day moving average is C$26.59.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings data on Monday, July 15th. The company reported C$0.25 earnings per share (EPS) for the quarter. The company 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, September 27th. PrairieSky Royalty’s dividend payout ratio (DPR) 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.