TD Securities lowered shares of PrairieSky Royalty (TSE:PSK) from a buy rating to a hold rating in a report issued on Tuesday morning. The firm currently has C$32.00 target price on the stock.
Other research analysts also recently issued reports about the company. National Bank Financial reduced their price objective on PrairieSky Royalty from C$32.00 to C$30.00 and set a sector perform rating on the stock in a report on Tuesday. BMO Capital Markets reduced their price objective on PrairieSky Royalty from C$36.00 to C$35.00 and set an outperform rating on the stock in a report on Tuesday. Eight Capital reduced their price objective on PrairieSky Royalty from C$33.75 to C$29.35 in a report on Tuesday. Canaccord Genuity reduced their price objective on PrairieSky Royalty from C$36.00 to C$35.00 in a report on Tuesday, February 27th. Finally, GMP Securities upgraded PrairieSky Royalty from a hold rating to a buy rating and reduced their price objective for the stock from C$35.50 to C$34.00 in a report on Thursday, March 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of C$33.58.
Shares of TSE PSK opened at C$29.41 on Tuesday. PrairieSky Royalty has a fifty-two week low of C$26.52 and a fifty-two week high of C$35.90.
PrairieSky Royalty (TSE:PSK) last issued its quarterly earnings results on Monday, February 26th. The company reported C$0.17 earnings per share for the quarter, topping the consensus estimate of C$0.10 by C$0.07. The firm had revenue of C$91.50 million for the quarter. PrairieSky Royalty had a return on equity of 5.87% and a net margin of 43.61%.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, April 27th. This represents a $0.78 annualized dividend and a yield of 2.65%.
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About PrairieSky Royalty
PrairieSky Royalty Ltd. engages in crude oil and natural gas businesses in Canada. The company holds royalty interests in properties located in Alberta, Saskatchewan, British Columbia, and Manitoba. It hold interests in approximately 7.8 million acres with petroleum and/or natural gas rights; 1.1 million acres with coal; and 7.5 million acres of GORR Lands.
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