PrairieSky Royalty Ltd (PSK) Price Target Raised to C$36.00 at Royal Bank Of Canada

PrairieSky Royalty Ltd (TSE:PSK) had its price target boosted by Royal Bank Of Canada from C$35.00 to C$36.00 in a research note released on Wednesday morning. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other analysts have also issued reports on the stock. BMO Capital Markets raised their price target on shares of PrairieSky Royalty from C$30.00 to C$35.00 in a research report on Tuesday, October 10th. GMP Securities raised their price target on shares of PrairieSky Royalty from C$30.00 to C$31.00 in a research report on Wednesday, July 26th. TD Securities downgraded shares of PrairieSky Royalty from a buy rating to a hold rating and reduced their price objective for the stock from C$33.00 to C$32.00 in a report on Monday, October 2nd. National Bank Financial reduced their price objective on shares of PrairieSky Royalty from C$29.00 to C$28.00 and set a sector perform rating for the company in a report on Friday, October 13th. Finally, CIBC raised their price objective on shares of PrairieSky Royalty from C$35.00 to C$38.00 in a report on Tuesday, October 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of C$35.45.

Shares of PrairieSky Royalty (TSE PSK) opened at C$34.79 on Wednesday. PrairieSky Royalty has a 12-month low of C$27.10 and a 12-month high of C$35.03.

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The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.0625 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Monday, October 30th.

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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