Analysts Set PrairieSky Royalty Ltd. (TSE:PSK) PT at C$31.64

PrairieSky Royalty Ltd. (TSE:PSK) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$32.25.

A number of equities research analysts have issued reports on PSK shares. Raymond James Financial downgraded shares of PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and upped their price objective for the stock from C$35.00 to C$35.50 in a research report on Monday, March 30th. Scotiabank boosted their target price on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 10th. TD Securities upped their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. National Bank Financial upped their price target on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, BMO Capital Markets upped their price target on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th.

PrairieSky Royalty Stock Up 2.0%

Shares of TSE PSK opened at C$32.02 on Wednesday. The stock has a market capitalization of C$7.45 billion, a P/E ratio of 36.80, a P/E/G ratio of 0.47 and a beta of 0.50. The company has a 50-day moving average price of C$31.22 and a 200-day moving average price of C$28.18. PrairieSky Royalty has a 1 year low of C$22.06 and a 1 year high of C$33.40. The company has a debt-to-equity ratio of 9.54, a current ratio of 0.64 and a quick ratio of 0.65.

Insider Activity at PrairieSky Royalty

In other PrairieSky Royalty news, Director Margaret Anne Mckenzie purchased 8,400 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were bought at an average cost of C$29.92 per share, for a total transaction of C$251,328.00. Following the purchase, the director owned 68,850 shares of the company’s stock, valued at C$2,059,992. This represents a 13.90% increase in their position. Insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.