PrairieSky Royalty Ltd. (OTCMKTS:PREKF) Receives Consensus Rating of “Moderate Buy” from Brokerages

PrairieSky Royalty Ltd. (OTCMKTS:PREKF) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company.

PREKF has been the subject of a number of research reports. BMO Capital Markets reissued an “outperform” rating on shares of PrairieSky Royalty in a research report on Tuesday, February 10th. TD Securities reiterated a “buy” rating on shares of PrairieSky Royalty in a research note on Tuesday, February 10th. Raymond James Financial raised PrairieSky Royalty from a “market perform” rating to an “outperform” rating in a report on Monday, December 8th. Finally, Scotiabank reissued a “sector perform” rating on shares of PrairieSky Royalty in a research report on Tuesday, February 10th.

PrairieSky Royalty Stock Down 0.8%

Shares of PREKF stock opened at $23.03 on Wednesday. PrairieSky Royalty has a 52 week low of $15.00 and a 52 week high of $24.17. The firm’s 50-day simple moving average is $22.40 and its two-hundred day simple moving average is $20.14.

About PrairieSky Royalty

PrairieSky Royalty Ltd (OTCMKTS: PREKF) is a Canadian energy royalty company that acquires and manages a diversified portfolio of oil and natural gas royalty interests. The company’s business model is centered on generating recurring, production-based revenue streams by owning freehold, crown, and overriding royalty interests across key resource plays. By not participating directly in exploration or production, PrairieSky Royalty benefits from lower operating risk and capital expenditure requirements compared with traditional upstream operators.

PrairieSky Royalty’s asset base is concentrated in the Western Canadian Sedimentary Basin, with significant holdings in Saskatchewan and Alberta, as well as smaller interests in British Columbia and Manitoba.