PrairieSky Royalty (TSE:PSK) Rating Lowered to Neutral at CIBC

PrairieSky Royalty (TSE:PSK) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday, BayStreet.CA reports. They presently have a C$31.00 target price on the stock, up from their previous target price of C$27.50. CIBC’s target price points to a potential upside of 14.64% from the stock’s current price.

Other analysts have also recently issued reports about the company. BMO Capital Markets set a C$30.00 price objective on PrairieSky Royalty and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. ATB Capital lifted their price objective 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 upped their price objective on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an “outperform” rating in a research report on Friday, April 19th. 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 report on Friday, January 19th. Finally, Canaccord Genuity Group boosted their price target on shares of PrairieSky Royalty from C$24.75 to C$28.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, PrairieSky Royalty presently has an average rating of “Hold” and an average target price of C$27.30.

PrairieSky Royalty Stock Performance

Shares of PrairieSky Royalty stock opened at C$27.04 on Monday. The stock has a market capitalization of C$6.46 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 0.47 and a beta of 1.81. The firm’s fifty day simple moving average is C$25.74 and its 200-day simple moving average is C$24.41. The company has a debt-to-equity ratio of 6.80, a current ratio of 0.65 and a quick ratio of 0.65. PrairieSky Royalty has a 12 month low of C$20.60 and a 12 month high of C$28.42.

PrairieSky Royalty (TSE:PSK) last announced its earnings results on Monday, February 12th. The company reported C$0.28 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of C$136.60 million during the quarter. As a group, equities analysts forecast that PrairieSky Royalty will post 1.0488722 earnings per share for the current year.

Insider Buying and Selling at PrairieSky Royalty

In other PrairieSky Royalty news, Director Glenn Mcnamara acquired 12,800 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of C$23.28 per share, with a total value of C$297,999.36. In other PrairieSky Royalty news, Director Glenn Mcnamara bought 12,800 shares of PrairieSky Royalty stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average price of C$23.28 per share, for a total transaction of C$297,999.36. Also, Director Leanne M. Bellegarde sold 6,650 shares of the stock in a transaction 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. 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.