PrairieSky Royalty Ltd (TSE:PSK) to Issue Monthly Dividend of $0.07

PrairieSky Royalty Ltd (TSE:PSK) declared a monthly dividend on Tuesday, September 10th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.065 per share on Tuesday, October 15th. This represents a $0.78 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, September 27th.

TSE:PSK traded down C$0.16 during midday trading on Thursday, hitting C$18.36. The company had a trading volume of 151,539 shares, compared to its average volume of 427,256. PrairieSky Royalty has a 52-week low of C$15.71 and a 52-week high of C$24.22. The stock’s fifty day moving average price is C$16.95 and its 200-day moving average price is C$18.22. The company has a market capitalization of $4.10 billion and a PE ratio of 41.00. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

PrairieSky Royalty (TSE:PSK) last announced its earnings results on Monday, July 22nd. The company reported C$0.19 earnings per share (EPS) for the quarter. The company had revenue of C$69.30 million during the quarter, compared to analysts’ expectations of C$73.90 million. As a group, research analysts forecast that PrairieSky Royalty will post 0.32 earnings per share for the current year.

PSK has been the subject of several recent research reports. National Bank Financial boosted their price target on shares of PrairieSky Royalty from C$17.50 to C$18.50 in a research note on Tuesday, July 23rd. CIBC lowered their price target on shares of PrairieSky Royalty from C$23.00 to C$21.00 in a research note on Thursday, July 18th. Royal Bank of Canada lowered their price target on shares of PrairieSky Royalty from C$26.00 to C$24.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. GMP Securities lowered their price target on shares of PrairieSky Royalty from C$22.25 to C$22.00 in a research note on Wednesday, July 24th. Finally, Raymond James reissued a “market perform” rating and issued a C$20.00 price target on shares of PrairieSky Royalty in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of C$22.16.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd. holds crude oil and natural gas royalty interests in Alberta, Saskatchewan, British Columbia, and Manitoba of Canada. It hold interests in approximately 7.8 million acres with petroleum and/or natural gas rights; 1.1 million acres with coal titles; 7.8 million acres of gross overriding royalty interests; and other acreage.

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Dividend History for PrairieSky Royalty (TSE:PSK)

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