PrairieSky Royalty Ltd (PSK) Given Consensus Recommendation of “Buy” by Analysts
Shares of PrairieSky Royalty Ltd (TSE:PSK) have been assigned an average recommendation of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$35.45.
Several brokerages have weighed in on PSK. Royal Bank Of Canada raised their price objective on PrairieSky Royalty from C$35.00 to C$36.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Securities cut PrairieSky Royalty from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$33.00 to C$32.00 in a research note on Monday, October 2nd. Raymond James Financial, Inc. cut PrairieSky Royalty from an “outperform” rating to a “market perform” rating and set a C$34.00 price objective on the stock. in a research note on Tuesday, October 31st. CIBC raised their price objective on PrairieSky Royalty from C$35.00 to C$38.00 in a research note on Tuesday, October 17th. Finally, GMP Securities raised their target price on PrairieSky Royalty from C$30.00 to C$31.00 in a research report on Wednesday, July 26th.
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PrairieSky Royalty (PSK) traded up C$0.75 during trading hours on Friday, reaching C$34.79. 874,694 shares of the company’s stock were exchanged, compared to its average volume of 579,434. PrairieSky Royalty has a twelve month low of C$27.10 and a twelve month high of C$35.03.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.0625 per share. The ex-dividend date is Monday, October 30th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.16%.
About PrairieSky Royalty
PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.
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