PrairieSky Royalty (TSE:PSK) Price Target Raised to C$34.00

PrairieSky Royalty (TSE:PSK) had its target price boosted by BMO Capital Markets from C$32.00 to C$34.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other analysts also recently commented on the stock. National Bank Financial raised their price objective on shares of 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. Raymond James Financial upgraded shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$30.00 to C$35.00 in a research report on Tuesday, December 9th. Natl Bk Canada upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. TD Securities increased their price target on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Scotiabank boosted their price objective on shares of PrairieSky Royalty from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$31.57.

PrairieSky Royalty Trading Down 0.9%

Shares of TSE:PSK opened at C$29.81 on Tuesday. The stock’s fifty day moving average price is C$27.80 and its 200-day moving average price is C$26.08. PrairieSky Royalty has a 1 year low of C$21.97 and a 1 year high of C$30.69. The company has a market cap of C$6.94 billion, a P/E ratio of 34.26, a PEG ratio of 0.47 and a beta of 0.79. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65.

Insider Buying and Selling at PrairieSky Royalty

In other PrairieSky Royalty news, Director Margaret Anne Mckenzie acquired 8,400 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average cost of C$29.92 per share, for a total transaction of C$251,328.00. Following the completion of the transaction, the director directly owned 68,850 shares of the company’s stock, valued at C$2,059,992. This represents a 13.90% increase in their ownership of the stock. 0.54% of the stock is currently owned by corporate insiders.

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.