Stifel Nicolaus Boosts PrairieSky Royalty (TSE:PSK) Price Target to C$30.00

PrairieSky Royalty (TSE:PSK) had its price target upped by Stifel Nicolaus from C$27.00 to C$30.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities analysts have also commented on PSK. Canaccord Genuity Group raised their target price on shares of PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a hold rating in a report on Wednesday, April 17th. ATB Capital raised their target price on shares of PrairieSky Royalty from C$27.00 to C$28.50 in a report on Tuesday. National Bankshares raised their target price on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an outperform rating in a report on Friday, April 19th. Royal Bank of Canada lifted their price target on shares of PrairieSky Royalty from C$26.00 to C$27.00 in a report on Tuesday. Finally, BMO Capital Markets lifted their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a hold rating in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, PrairieSky Royalty has a consensus rating of Hold and a consensus price target of C$27.30.

PrairieSky Royalty Price Performance

Shares of PrairieSky Royalty stock opened at C$26.85 on Tuesday. PrairieSky Royalty has a twelve month low of C$20.69 and a twelve month high of C$28.42. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80. The company has a 50-day simple moving average of C$25.91 and a two-hundred day simple moving average of C$24.45. The stock has a market capitalization of C$6.42 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last released its earnings results on Monday, February 12th. The company reported C$0.28 EPS for the quarter, beating the consensus estimate of C$0.22 by C$0.06. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. The firm had revenue of C$136.60 million for the quarter. Analysts forecast that PrairieSky Royalty will post 1.0488722 EPS for the current year.

PrairieSky Royalty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.72%. This is an increase from PrairieSky Royalty’s previous quarterly dividend of $0.24. PrairieSky Royalty’s payout ratio is 105.26%.

Insider Transactions at PrairieSky Royalty

In other news, Director Glenn Mcnamara purchased 12,800 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of C$23.28 per share, for a total transaction of C$297,999.36. In related news, Director Leanne M. Bellegarde sold 6,650 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total transaction of C$171,437.00. Also, Director Glenn Mcnamara bought 12,800 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of C$23.28 per share, for a total transaction of C$297,999.36. Corporate insiders own 0.54% of the company’s stock.

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.