Raymond James Financial Downgrades PrairieSky Royalty (TSE:PSK) to Hold

PrairieSky Royalty (TSE:PSK) was downgraded by equities research analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a C$35.50 price target on the stock, up from their prior price target of C$35.00. Raymond James Financial’s price objective would suggest a potential upside of 10.25% from the stock’s current price.

PSK has been the subject of a number of other research reports. National Bank Financial upped their price target on PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. BMO Capital Markets lifted their price objective on 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 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. Finally, TD Securities increased their target price on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PrairieSky Royalty presently has an average rating of “Moderate Buy” and an average price target of C$31.64.

PrairieSky Royalty Trading Down 0.6%

Shares of PSK stock opened at C$32.20 on Monday. 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 cap of C$7.49 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 0.47 and a beta of 0.65. PrairieSky Royalty has a 1 year low of C$21.97 and a 1 year high of C$33.40. The firm has a fifty day moving average price of C$30.68 and a 200-day moving average price of C$27.83.

Insiders Place Their Bets

In other PrairieSky Royalty news, Director Margaret Anne Mckenzie purchased 8,400 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was acquired at an average price 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 approximately C$2,059,992. This represents a 13.90% increase in their position. Corporate 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.