PrairieSky Royalty (TSE:PSK) Sets New 1-Year High – Here’s What Happened

PrairieSky Royalty Ltd. (TSE:PSK) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$29.15 and last traded at C$29.06, with a volume of 128023 shares. The stock had previously closed at C$28.93.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSK. Raymond James raised shares of PrairieSky Royalty to a “hold” rating in a research note on Thursday, October 17th. Atb Cap Markets raised shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. TD Securities lifted their target price on PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Royal Bank of Canada raised shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$31.00 to C$33.00 in a research report on Tuesday, September 17th. Finally, BMO Capital Markets lifted their price target on shares of PrairieSky Royalty from C$33.00 to C$34.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, PrairieSky Royalty currently has a consensus rating of “Moderate Buy” and an average price target of C$30.80.

PrairieSky Royalty Stock Performance

The company has a current ratio of 0.30, a quick ratio of 0.65 and a debt-to-equity ratio of 5.40. The stock’s 50 day moving average is C$27.78 and its 200 day moving average is C$27.10. The stock has a market capitalization of C$7.10 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 0.47 and a beta of 1.78.

PrairieSky Royalty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 yield of 3.37%. The ex-dividend date was Friday, September 27th. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 104.17%.

Insider Activity

In other news, Senior Officer Daniel James Bertram purchased 7,670 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of C$28.20 per share, for a total transaction of C$216,290.93. 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.