Margaret Anne Mckenzie Buys 8,400 Shares of PrairieSky Royalty (TSE:PSK) Stock

PrairieSky Royalty Ltd. (TSE:PSK) Director Margaret Anne Mckenzie purchased 8,400 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were acquired at an average price of C$29.92 per share, for a total transaction of C$251,328.00. Following the purchase, the director directly owned 68,850 shares of the company’s stock, valued at approximately C$2,059,992. The trade was a 13.90% increase in their position.

PrairieSky Royalty Stock Performance

PSK opened at C$29.81 on Friday. The company has a market cap of C$6.94 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 0.47 and a beta of 0.79. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48. The firm’s 50-day moving average price is C$27.80 and its 200-day moving average price is C$26.08. PrairieSky Royalty Ltd. has a 52-week low of C$21.97 and a 52-week high of C$30.69.

Analyst Upgrades and Downgrades

PSK has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Tuesday. TD Securities raised their price objective on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research note on Tuesday. Natl Bk Canada upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. National Bank Financial increased their price target on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Finally, Scotiabank raised their price target on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, PrairieSky Royalty currently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.57.

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.