PrairieSky Royalty Ltd (PSK) Price Target Raised to C$36.00 at Scotiabank

PrairieSky Royalty Ltd (TSE:PSK) had its price target boosted by Scotiabank from C$35.00 to C$36.00 in a research note released on Tuesday. Scotiabank currently has a sector perform rating on the stock.

A number of other research firms have also commented on PSK. National Bank Financial raised their price target on PrairieSky Royalty from C$28.00 to C$33.00 in a research report on Tuesday. CIBC raised their price target on PrairieSky Royalty from C$38.00 to C$40.00 in a research report on Tuesday. Barclays PLC lifted their target price on PrairieSky Royalty from C$28.00 to C$32.00 in a research report on Monday, October 30th. TD Securities lowered PrairieSky Royalty from a buy rating to a hold rating and dropped their target price for the company from C$33.00 to C$32.00 in a research report on Monday, October 2nd. Finally, BMO Capital Markets lifted their target price on PrairieSky Royalty from C$30.00 to C$35.00 in a research report on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of C$35.45.

Shares of PrairieSky Royalty (TSE PSK) opened at C$34.79 on Tuesday.

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The company also recently announced a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 15th will be given a $0.0625 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Monday, October 30th.

PrairieSky Royalty Company Profile

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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