PrairieSky Royalty (TSE:PSK) Reaches New 1-Year High – Should You Buy?

PrairieSky Royalty Ltd. (TSE:PSK) shares reached a new 52-week high during trading on Thursday . The company 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.

Analyst Upgrades and Downgrades

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

PrairieSky Royalty Trading Up 1.0 %

The company has a market capitalization of C$7.31 billion, a PE ratio of 31.56, a P/E/G 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. The business has a fifty day moving average price of C$28.07 and a 200 day moving average price of C$27.20.

PrairieSky Royalty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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 yield of 3.27%. PrairieSky Royalty’s dividend payout ratio (DPR) is 104.17%.

Insiders Place Their Bets

In other PrairieSky Royalty news, Senior Officer Daniel James Bertram bought 7,670 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of C$28.20 per share, with a total value of C$216,290.93. 0.54% of the stock is 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.