PrairieSky Royalty (TSE:PSK) Price Target Raised to C$33.00

PrairieSky Royalty (TSE:PSK) had its price target increased by TD Securities from C$30.00 to C$33.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on PSK. Scotiabank lifted their price target on PrairieSky Royalty from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a report on Tuesday, January 20th. Natl Bk Canada raised PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 3rd. Raymond James Financial upgraded PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and upped their target price for the company from C$30.00 to C$35.00 in a report on Tuesday, December 9th. Finally, National Bank Financial increased 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 report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$31.57.

PrairieSky Royalty Trading Down 0.9%

Shares of TSE:PSK opened at C$29.81 on Tuesday. The company has a market cap of C$6.94 billion, a PE ratio of 34.26, a P/E/G ratio of 0.47 and a beta of 0.79. The company’s 50-day moving average price is C$27.80 and its 200 day moving average price is C$26.08. PrairieSky Royalty has a fifty-two week low of C$21.97 and a fifty-two week high of C$30.69. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48.

Insider Buying and Selling

In related news, Director Margaret Anne Mckenzie purchased 8,400 shares of the 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 of the company’s stock, valued at approximately C$2,059,992. The trade was a 13.90% increase in their position. 0.54% of the stock is currently owned by corporate insiders.

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.