PrairieSky Royalty Ltd (PSK) Receives Average Rating of “Buy” from Analysts

Shares of PrairieSky Royalty Ltd (TSE:PSK) have been given an average recommendation of “Buy” by the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$34.60.

A number of research firms have recently weighed in on PSK. TD Securities upgraded PrairieSky Royalty from a “hold” rating to a “buy” rating and dropped their target price for the company from C$33.00 to C$32.00 in a report on Thursday. CIBC raised their target price on PrairieSky Royalty from C$36.00 to C$40.00 in a report on Tuesday. GMP Securities upgraded PrairieSky Royalty from a “hold” rating to a “buy” rating and dropped their target price for the company from C$35.50 to C$34.00 in a report on Thursday, March 1st. BMO Capital Markets set a C$38.00 price target on PrairieSky Royalty and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Finally, Raymond James Financial dropped their price target on PrairieSky Royalty from C$31.00 to C$30.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th.

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PSK stock traded down C$0.41 during mid-day trading on Friday, hitting C$27.91. The stock had a trading volume of 301,600 shares, compared to its average volume of 447,942. PrairieSky Royalty has a 52 week low of C$26.52 and a 52 week high of C$35.90. The company has a market capitalization of $6,310.00, a price-to-earnings ratio of 54.73 and a beta of 1.04.

The firm also recently declared a monthly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 16th will be issued a dividend of $0.065 per share. This is a positive change from PrairieSky Royalty’s previous monthly dividend of $0.06. This represents a $0.78 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Wednesday, March 28th. PrairieSky Royalty’s dividend payout ratio (DPR) is 146.08%.

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About PrairieSky Royalty

PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.

Analyst Recommendations for PrairieSky Royalty (TSE:PSK)

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