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

PrairieSky Royalty (TSE:PSK) had its target price raised by Canaccord Genuity Group from C$24.75 to C$28.00 in a report issued on Wednesday, BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 2.26% from the stock’s current price.

PSK has been the topic of a number of other research reports. National Bankshares cut their target price 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. ATB Capital upped 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. BMO Capital Markets set a C$30.00 price objective on shares of PrairieSky Royalty and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. CIBC cut their target price on PrairieSky Royalty from C$29.50 to C$27.50 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. Finally, Raymond James decreased their price target on PrairieSky Royalty from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$26.78.

PrairieSky Royalty Stock Performance

Shares of TSE PSK opened at C$27.38 on Wednesday. PrairieSky Royalty has a one year low of C$20.41 and a one year high of C$28.42. The company has a debt-to-equity ratio of 6.80, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of C$6.54 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 0.47 and a beta of 1.81. The stock’s fifty day moving average price is C$25.44 and its two-hundred day moving average price is C$24.34.

PrairieSky Royalty (TSE:PSK) last released its earnings results on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.22 by C$0.06. The firm had revenue of C$136.60 million during the quarter. PrairieSky Royalty had a return on equity of 8.22% and a net margin of 47.46%. On average, equities analysts forecast that PrairieSky Royalty will post 1.0488722 EPS for the current year.

Insider Activity at PrairieSky Royalty

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

PrairieSky Royalty Company Profile

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.