PrairieSky Royalty Ltd (TSE:PSK) has been assigned an average recommendation of “Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$35.45.
A number of research analysts have commented on PSK shares. TD Securities downgraded shares of PrairieSky Royalty from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$33.00 to C$32.00 in a research note on Monday, October 2nd. Royal Bank Of Canada increased their target price on shares of PrairieSky Royalty from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Barclays PLC increased their target price on shares of PrairieSky Royalty from C$28.00 to C$32.00 in a report on Monday, October 30th. BMO Capital Markets raised shares of PrairieSky Royalty from a “market perform” rating to an “outperform” rating and set a C$38.00 target price on the stock in a report on Friday, October 27th. Finally, National Bank Financial increased their target price on shares of PrairieSky Royalty from C$28.00 to C$33.00 in a report on Tuesday, October 31st.
In related news, Director Sheldon Brooks Steeves sold 7,714 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of C$35.62, for a total value of C$274,772.68.
PrairieSky Royalty (PSK) traded down C$0.59 during midday trading on Friday, reaching C$34.85. 693,217 shares of the company’s stock were exchanged, compared to its average volume of 595,296. PrairieSky Royalty has a 12-month low of C$27.10 and a 12-month high of C$35.90.
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 15th will be issued a $0.0625 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.15%.
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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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