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

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

A number of other research firms have also weighed in on PSK. BMO Capital Markets set a C$30.00 price objective on PrairieSky Royalty and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. National Bankshares reduced their price objective on PrairieSky Royalty from C$28.00 to C$25.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 10th. ATB Capital raised their target price on shares of PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a “sector perform” rating in a report on Wednesday, March 20th. Raymond James lowered their price objective on shares of PrairieSky Royalty from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Finally, CIBC reduced their target price on shares of 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. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$26.78.

PrairieSky Royalty Trading Down 0.6 %

PrairieSky Royalty stock opened at C$27.38 on Wednesday. PrairieSky Royalty has a 12-month low of C$20.41 and a 12-month high of C$28.42. The firm has a market capitalization 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 firm has a 50 day moving average of C$25.44 and a 200 day moving average of C$24.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 6.80.

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

Insider Buying and Selling

In other PrairieSky Royalty news, Director Glenn Mcnamara purchased 12,800 shares of PrairieSky Royalty stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average cost of C$23.28 per share, for a total transaction of C$297,999.36. In other PrairieSky Royalty news, 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. Also, Director Glenn Mcnamara bought 12,800 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of C$23.28 per share, for a total transaction of C$297,999.36. 0.54% of the stock is currently owned by corporate 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.