PrairieSky Royalty (TSE:PSK) Sets New 52-Week High – What’s Next?

PrairieSky Royalty Ltd. (TSE:PSK) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$29.86 and last traded at C$29.86, with a volume of 6201 shares changing hands. The stock had previously closed at C$29.62.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSK. Atb Cap Markets raised PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. National Bankshares upped their price target on PrairieSky Royalty from C$33.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. TD Securities upped their price target on PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a “hold” rating in a research note on Tuesday, October 29th. Royal Bank of Canada raised PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$31.00 to C$33.00 in a research note on Tuesday, September 17th. Finally, BMO Capital Markets upped their price target on PrairieSky Royalty from C$33.00 to C$34.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, PrairieSky Royalty presently has a consensus rating of “Moderate Buy” and an average price target of C$30.80.

PrairieSky Royalty Stock Up 1.5 %

The company has a market capitalization of C$7.18 billion, a P/E ratio of 30.85, a P/E/G ratio of 0.47 and a beta of 1.78. 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 firm has a fifty day simple moving average of C$27.99 and a 200-day simple moving average of C$27.18.

PrairieSky Royalty Announces Dividend

The firm 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, September 27th. PrairieSky Royalty’s dividend payout ratio is currently 104.17%.

Insider Transactions at PrairieSky Royalty

In other news, Senior Officer Daniel James Bertram bought 7,670 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of C$28.20 per share, with a total value of C$216,290.93. 0.54% of the stock is currently owned by insiders.

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.