Analysts Set PrairieSky Royalty Ltd. (TSE:PSK) Price Target at C$31.57

PrairieSky Royalty Ltd. (TSE:PSK) has received an average rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$31.57.

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

PrairieSky Royalty Trading Up 0.7%

PrairieSky Royalty stock opened at C$32.30 on Friday. PrairieSky Royalty has a one year low of C$21.97 and a one year high of C$32.70. The company’s fifty day moving average price is C$29.68 and its two-hundred day moving average price is C$27.30. The company has a debt-to-equity ratio of 9.54, a current ratio of 0.64 and a quick ratio of 0.65. The company has a market capitalization of C$7.52 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 0.47 and a beta of 0.65.

Insider Transactions at PrairieSky Royalty

In other PrairieSky Royalty news, Director Margaret Anne Mckenzie acquired 8,400 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were 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 purchase, the director owned 68,850 shares of the company’s stock, valued at approximately C$2,059,992. This trade represents a 13.90% increase in their position. 0.54% of the stock is owned by company 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.