BMO Capital Markets Boosts PrairieSky Royalty (TSE:PSK) Price Target to C$33.00

PrairieSky Royalty (TSE:PSK) had its price objective lifted by BMO Capital Markets from C$30.00 to C$33.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 22.22% from the stock’s current price.

PSK has been the topic of several other research reports. 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 research note on Wednesday, March 20th. CIBC cut shares of PrairieSky Royalty from an “outperform” rating to a “neutral” rating and raised their target price for the company from C$27.50 to C$31.00 in a research note on Monday. Canaccord Genuity Group raised their target price on shares of PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. 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 research note on Friday, January 19th. Finally, National Bankshares raised their target price on shares of PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an “outperform” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, PrairieSky Royalty currently has an average rating of “Hold” and a consensus target price of C$27.30.

PrairieSky Royalty Stock Performance

Shares of PSK stock traded down C$0.45 during trading hours on Tuesday, reaching C$27.00. The stock had a trading volume of 274,354 shares, compared to its average volume of 294,160. 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 twelve month low of C$20.60 and a twelve month high of C$28.42. The firm has a 50-day simple moving average of C$25.65 and a 200-day simple moving average of C$24.39. The firm has a market capitalization of C$6.45 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last released its quarterly earnings data on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, topping 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 for the quarter. As a group, equities analysts forecast that PrairieSky Royalty will post 1.0488722 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Glenn Mcnamara bought 12,800 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was bought 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 firm’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 purchased 12,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of C$23.28 per share, with a total value of C$297,999.36. Corporate insiders own 0.54% of the company’s stock.

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.