PrairieSky Royalty (OTCMKTS:PREKF) Trading 0.9% Higher – Here’s What Happened

PrairieSky Royalty Ltd. (OTCMKTS:PREKF)’s share price shot up 0.9% during mid-day trading on Friday . The company traded as high as $19.1320 and last traded at $19.0720. 30,679 shares traded hands during trading, an increase of 38% from the average session volume of 22,171 shares. The stock had previously closed at $18.90.

Analyst Upgrades and Downgrades

PREKF has been the subject of several research analyst reports. Scotiabank restated a “sector perform” rating on shares of PrairieSky Royalty in a report on Thursday, October 9th. TD Securities reiterated a “buy” rating on shares of PrairieSky Royalty in a report on Tuesday, September 30th. CIBC reiterated a “neutral” rating on shares of PrairieSky Royalty in a research note on Tuesday, October 21st. Finally, Raymond James Financial raised shares of PrairieSky Royalty from a “market perform” rating to an “outperform” rating in a research note on Monday, December 8th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

PrairieSky Royalty Trading Up 0.9%

The business has a 50-day moving average of $19.30 and a 200 day moving average of $18.26.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd (OTCMKTS: PREKF) is a Canadian energy royalty company that acquires and manages a diversified portfolio of oil and natural gas royalty interests. The company’s business model is centered on generating recurring, production-based revenue streams by owning freehold, crown, and overriding royalty interests across key resource plays. By not participating directly in exploration or production, PrairieSky Royalty benefits from lower operating risk and capital expenditure requirements compared with traditional upstream operators.

PrairieSky Royalty’s asset base is concentrated in the Western Canadian Sedimentary Basin, with significant holdings in Saskatchewan and Alberta, as well as smaller interests in British Columbia and Manitoba.