PrairieSky Royalty Ltd. (TSE:PSK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of PrairieSky Royalty Ltd. (TSE:PSK) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$31.64.

Several research firms recently issued reports on PSK. TD Securities lifted their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Scotiabank lifted their price target on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 10th. BMO Capital Markets lifted their price target 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, February 10th. Raymond James Financial downgraded shares of PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and lifted their price target for the company from C$35.00 to C$35.50 in a research report on Monday, March 30th. Finally, National Bank Financial lifted their price target on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd.

PrairieSky Royalty Stock Up 1.6%

PrairieSky Royalty stock opened at C$32.76 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 9.54. PrairieSky Royalty has a 12-month low of C$21.97 and a 12-month high of C$33.40. The firm’s fifty day moving average is C$31.08 and its 200 day moving average is C$28.08. The company has a market capitalization of C$7.62 billion, a PE ratio of 37.66, a PEG ratio of 0.47 and a beta of 0.50.

Insider Transactions at PrairieSky Royalty

In other PrairieSky Royalty news, Director Margaret Anne Mckenzie purchased 8,400 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, February 11th. The stock was acquired at an average price of C$29.92 per share, with a total value of C$251,328.00. Following the transaction, the director owned 68,850 shares in the company, valued at C$2,059,992. This trade represents a 13.90% increase in their position. Insiders own 0.54% of the company’s stock.

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.