Key Points
- Insider buying: PrairieSky Royalty insider Ian Charles Dundas bought 7,500 shares at an average price of C$31.89, increasing his position by 37.5% to 27,500 shares.
- Dividend update: The company announced a quarterly dividend of C$0.265 per share, payable July 15, which annualizes to C$1.06 per share and a 3.3% yield.
- Analyst sentiment: PrairieSky Royalty currently has a Moderate Buy consensus rating, with an average price target of C$32.25 after mixed recent analyst updates.
PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) insider Ian Charles Dundas acquired 7,500 shares of PrairieSky Royalty stock in a transaction on Friday, June 19th. The stock was purchased at an average price of C$31.89 per share, with a total value of C$239,175.00. Following the purchase, the insider owned 27,500 shares of the company's stock, valued at C$876,975. The trade was a 37.50% increase in their position.
PrairieSky Royalty Stock Up 0.6%
Shares of TSE:PSK opened at C$32.11 on Tuesday. The firm has a fifty day moving average price of C$33.36 and a 200 day moving average price of C$30.80. PrairieSky Royalty Ltd. has a 1-year low of C$23.17 and a 1-year high of C$35.89. The company has a debt-to-equity ratio of 9.36, a current ratio of 0.83 and a quick ratio of 0.65. The stock has a market cap of C$7.46 billion, a P/E ratio of 37.34, a P/E/G ratio of 0.47 and a beta of 0.75.
PrairieSky Royalty Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 30th. PrairieSky Royalty's dividend payout ratio (DPR) is presently 121.51%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Roth Mkm upgraded shares of PrairieSky Royalty to a "strong-buy" rating in a research report on Thursday, April 30th. Raymond James Financial lowered shares of PrairieSky Royalty from a "moderate buy" rating to a "hold" rating and boosted their price objective for the stock from C$35.00 to C$35.50 in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, PrairieSky Royalty presently has a consensus rating of "Moderate Buy" and an average price target of C$32.25.
Get Our Latest Analysis on PSK
About PrairieSky Royalty
(
Get Free Report)
PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.
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