Key Points
- Insider purchase: Pamela Pearl Kazeil bought 2,500 PrairieSky Royalty shares at C$33.42 each, investing C$83,550 and increasing her position by 347.22% to 3,220 shares.
- Stock and dividend: Shares opened at C$33.08 after declining 3.0%; PrairieSky pays a quarterly dividend of C$0.265, equivalent to a 3.2% annual yield.
- Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with an average price target of C$34.42 and RBC’s target recently raised to C$38.00.
PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) insider Pamela Pearl Kazeil bought 2,500 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average cost of C$33.42 per share, for a total transaction of C$83,550.00. Following the purchase, the insider owned 3,220 shares of the company's stock, valued at approximately C$107,612.40. The trade was a 347.22% increase in their position.
PrairieSky Royalty Trading Down 3.0%
Shares of TSE PSK opened at C$33.08 on Thursday. PrairieSky Royalty Ltd. has a fifty-two week low of C$23.43 and a fifty-two week high of C$35.89. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.65 and a current ratio of 0.90. The company has a market cap of C$7.69 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 0.47 and a beta of 0.73. The business's 50 day moving average price is C$33.41 and its 200-day moving average price is C$32.22.
PrairieSky Royalty Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 30th. PrairieSky Royalty's dividend payout ratio is 100.96%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on PSK shares. Roth Capital upgraded PrairieSky Royalty to a "strong-buy" rating in a research report on Thursday, April 30th. Royal Bank Of Canada upped their price target on shares of PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$34.42.
Read Our Latest Report on PSK
PrairieSky Royalty Company Profile
(
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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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