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

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$31.57.

PSK has been the topic of several recent analyst reports. Raymond James Financial upgraded shares of 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 research note on Tuesday, December 9th. BMO Capital Markets boosted their price objective on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 10th. National Bank Financial upped their target price on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Scotiabank increased their target price on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 10th. Finally, TD Securities lifted their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th.

PrairieSky Royalty Trading Up 1.9%

PSK opened at C$33.02 on Friday. PrairieSky Royalty has a one year low of C$21.97 and a one year high of C$33.19. The company has a market cap of C$7.68 billion, a P/E ratio of 37.95, a PEG ratio of 0.47 and a beta of 0.65. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.65 and a current ratio of 0.64. The business’s 50-day simple moving average is C$29.94 and its 200-day simple moving average is C$27.40.

Insider Activity

In other news, Director Margaret Anne Mckenzie acquired 8,400 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were bought at an average price of C$29.92 per share, with a total value of C$251,328.00. Following the completion of the acquisition, the director owned 68,850 shares in the company, valued at C$2,059,992. This trade represents a 13.90% increase in their position. Insiders own 0.54% of the company’s stock.

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.