PrairieSky Royalty Ltd. (TSE:PSK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$31.57.

A number of research firms have weighed in on PSK. National Bank Financial lifted their price target on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. BMO Capital Markets lifted their target price on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. TD Securities upped their target price 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. Scotiabank raised 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 research note on Tuesday, February 10th. Finally, Raymond James Financial raised PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and lifted their price objective for the company from C$30.00 to C$35.00 in a report on Tuesday, December 9th.

Insider Buying and Selling

In other news, Director Margaret Anne Mckenzie purchased 8,400 shares of PrairieSky Royalty stock in a transaction on Wednesday, February 11th. The shares were purchased 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 in the company, valued at approximately 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 Price Performance

Shares of PSK stock opened at C$30.42 on Tuesday. PrairieSky Royalty has a 12 month low of C$21.97 and a 12 month high of C$30.84. The company has a market capitalization of C$7.08 billion, a P/E ratio of 34.97, a P/E/G ratio of 0.47 and a beta of 0.79. The stock has a 50 day moving average of C$28.10 and a two-hundred day moving average of C$26.36. The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48.

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.