PrairieSky Royalty (TSE:PSK) Given New C$37.00 Price Target at National Bankshares

PrairieSky Royalty (TSE:PSK) had its target price increased by National Bankshares from C$33.00 to C$37.00 in a research note published on Wednesday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

A number of other equities analysts also recently issued reports on PSK. TD Securities cut their price objective on shares of PrairieSky Royalty from C$26.00 to C$25.00 in a report on Tuesday, October 1st. Scotiabank upped their price objective on shares of PrairieSky Royalty from C$29.00 to C$31.00 in a research report on Friday, July 12th. ATB Capital lifted their target price on shares of PrairieSky Royalty from C$28.50 to C$30.00 in a research report on Friday, July 19th. Atb Cap Markets raised PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada raised PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from C$31.00 to C$33.00 in a research report on Tuesday, September 17th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$30.60.

PrairieSky Royalty Price Performance

The firm’s 50-day moving average is C$27.48 and its 200 day moving average is C$27.04. PrairieSky Royalty has a 1 year low of C$21.22 and a 1 year high of C$28.93. The stock has a market capitalization of C$6.59 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a debt-to-equity ratio of 5.40, a quick ratio of 0.65 and a current ratio of 0.30.

PrairieSky Royalty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were given a dividend of $0.25 per share. 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 ∞. PrairieSky Royalty’s dividend payout ratio is presently 104.17%.

About PrairieSky Royalty

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.