Scotia Issues Positive Forecast for PrairieSky Royalty (TSE:PSK) Stock Price

PrairieSky Royalty (TSE:PSK) had its target price boosted by Scotia from C$36.00 to C$37.00 in a research note issued on Tuesday, BayStreet reports. The firm currently has a “sector perform” rating on the stock. Scotia‘s price target would suggest a potential downside of 0.11% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. National Bank Financial lifted their price objective on PrairieSky Royalty from C$42.00 to C$43.00 and gave the company an “outperform” rating in a research report on Tuesday, October 20th. Royal Bank Of Canada raised their price target on shares of PrairieSky Royalty from C$38.00 to C$39.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$36.93.

PrairieSky Royalty Price Performance

TSE:PSK traded up C$0.34 during trading hours on Tuesday, hitting C$37.04. 469,688 shares of the company’s stock traded hands, compared to its average volume of 494,021. PrairieSky Royalty has a 52 week low of C$24.76 and a 52 week high of C$38.08. The firm has a market cap of C$8.61 billion, a P/E ratio of 35.62, a P/E/G 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. The business’s fifty day simple moving average is C$35.28 and its two-hundred day simple moving average is C$32.85.

PrairieSky Royalty (TSE:PSK) last issued its quarterly earnings results on Monday, October 26th. The company reported C$0.36 earnings per share (EPS) for the quarter. PrairieSky Royalty had a return on equity of 9.48% and a net margin of 44.86%. The firm had revenue of C$165.00 million during the quarter.

Insider Buying and Selling

In related news, insider Pamela Pearl Kazeil bought 2,500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were purchased at an average price of C$33.42 per share, with a total value of C$83,550.00. Following the transaction, the insider owned 3,220 shares in the company, valued at 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 that occurred on Wednesday, August 5th. The shares were purchased at an average cost of C$33.26 per share, with a total value of C$116,410.00. Following the completion of the purchase, the insider owned 93,500 shares in the company, valued at C$3,109,810. This trade represents a 3.89% increase in their position. 0.54% of the stock is currently owned by insiders.

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.