PrairieSky Royalty (TSE:PSK) PT Raised to C$28.00

PrairieSky Royalty (TSE:PSK) had its target price increased by equities research analysts at Canaccord Genuity Group from C$24.75 to C$28.00 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 1.67% from the company’s previous close.

Several other research analysts have also weighed in on PSK. Raymond James lowered their target price on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. BMO Capital Markets set a C$30.00 price target on shares of PrairieSky Royalty and gave the company an “outperform” rating in a research report on Wednesday, March 13th. ATB Capital increased their price target on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 20th. National Bankshares lowered their price target on shares of PrairieSky Royalty from C$28.00 to C$25.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 10th. Finally, CIBC lowered their price target on shares of PrairieSky Royalty from C$29.50 to C$27.50 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PrairieSky Royalty currently has a consensus rating of “Hold” and a consensus target price of C$26.78.

PrairieSky Royalty Stock Performance

TSE PSK traded down C$0.13 during trading hours on Wednesday, hitting C$27.54. 166,911 shares of the stock were exchanged, compared to its average volume of 290,818. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80. The stock has a 50-day moving average of C$25.22 and a 200 day moving average of C$24.30. PrairieSky Royalty has a 12-month low of C$20.41 and a 12-month high of C$28.42. The company has a market cap of C$6.58 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last issued its earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, topping the consensus estimate of C$0.22 by C$0.06. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. The company had revenue of C$136.60 million for the quarter. As a group, equities research analysts forecast that PrairieSky Royalty will post 1.0488722 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Glenn Mcnamara purchased 12,800 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of C$23.28 per share, with a total value of C$297,999.36. In other news, Director Glenn Mcnamara purchased 12,800 shares of the stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of C$23.28 per share, with a total value of C$297,999.36. Also, Director Leanne M. Bellegarde sold 6,650 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total value of C$171,437.00. 0.54% of the stock is owned by company insiders.

About PrairieSky Royalty

PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.