PrairieSky Royalty (TSE:PSK) Downgraded by Raymond James Financial to “Market Perform”

Raymond James Financial cut shares of PrairieSky Royalty (TSE:PSK) from an outperform rating to a market perform rating in a research note released on Monday,BayStreet.CA reports. The firm currently has C$35.50 price target on the stock, up from their previous price target of C$35.00.

Several other research analysts also recently commented on the company. BMO Capital Markets raised their target price on PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 10th. National Bank Financial upped their price target on PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Scotiabank increased their price target on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 10th. Finally, TD Securities increased their price objective on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$31.64.

PrairieSky Royalty Trading Down 2.4%

Shares of PrairieSky Royalty stock opened at C$32.40 on Monday. The stock’s 50-day simple moving average is C$30.58 and its 200 day simple moving average is C$27.78. The stock has a market capitalization of C$7.54 billion, a P/E ratio of 37.24, a P/E/G ratio of 0.47 and a beta of 0.65. PrairieSky Royalty has a 52-week low of C$21.97 and a 52-week high of C$33.40. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.65 and a current ratio of 0.64.

Insider Activity

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

PrairieSky Royalty Company Profile

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.