Margaret Anne Mckenzie Buys 8,400 Shares of PrairieSky Royalty (TSE:PSK) Stock

PrairieSky Royalty Ltd. (TSE:PSK) Director Margaret Anne Mckenzie acquired 8,400 shares of PrairieSky Royalty stock in a transaction dated Wednesday, February 11th. The stock was purchased at an average price of C$29.92 per share, for a total transaction of C$251,328.00. Following the completion of the acquisition, the director directly owned 68,850 shares in the company, valued at approximately C$2,059,992. This represents a 13.90% increase in their position.

PrairieSky Royalty Stock Performance

Shares of PSK stock traded up C$0.45 during trading hours on Wednesday, hitting C$29.93. The stock had a trading volume of 169,333 shares, compared to its average volume of 393,345. The firm has a market capitalization of C$6.97 billion, a PE ratio of 32.18, a PEG ratio of 0.47 and a beta of 0.79. The stock’s 50 day moving average is C$27.71 and its 200 day moving average is C$26.03. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65. PrairieSky Royalty Ltd. has a twelve month low of C$21.97 and a twelve month high of C$30.69.

Wall Street Analyst Weigh In

PSK has been the topic of several research reports. Raymond James Financial upgraded shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and raised their price target for the company from C$30.00 to C$35.00 in a report on Tuesday, December 9th. BMO Capital Markets increased their target price on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday. National Bankshares upped their price target on PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. TD Securities raised their price objective on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Natl Bk Canada upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$31.57.

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.