PrairieSky Royalty (TSE:PSK) Price Target Raised to C$43.00

PrairieSky Royalty (TSE:PSK) had its target price hoisted by equities researchers at National Bank Financial from C$42.00 to C$43.00 in a note issued to investors on Tuesday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s target price would suggest a potential upside of 18.10% from the stock’s current price.

Separately, Royal Bank Of Canada upped their price objective on PrairieSky Royalty from C$36.00 to C$38.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$35.75.

PrairieSky Royalty Stock Performance

PSK traded up C$0.36 during trading on Tuesday, hitting C$36.41. 108,359 shares of the stock were exchanged, compared to its average volume of 494,686. The stock has a fifty day moving average price of C$35.18 and a two-hundred day moving average price of C$33.94. PrairieSky Royalty has a 1-year low of C$24.76 and a 1-year high of C$37.29. The firm has a market capitalization of C$8.46 billion, a P/E ratio of 35.01, a PEG ratio of 0.47 and a beta of 0.82. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 6.88.

Insiders Place Their Bets

In other PrairieSky Royalty news, insider Pamela Pearl Kazeil acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was acquired at an average cost of C$33.42 per share, with a total value of C$83,550.00. Following the purchase, the insider directly owned 3,220 shares in the company, valued at approximately C$107,612.40. This trade represents a 347.22% increase in their position. Also, insider Andrew Phillips purchased 3,500 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were bought at an average cost of C$33.26 per share, with a total value of C$116,410.00. Following the transaction, the insider directly owned 93,500 shares of the company’s stock, valued at C$3,109,810. This represents a 3.89% increase in their position. Company insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.