Insider Buying: PrairieSky Royalty (TSE:PSK) Director Purchases C$251,328.00 in Stock

PrairieSky Royalty Ltd. (TSE:PSK) Director Margaret Anne Mckenzie acquired 8,400 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were purchased at an average cost of C$29.92 per share, for a total transaction of C$251,328.00. Following the acquisition, the director 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 Up 0.0%

PrairieSky Royalty stock opened at C$29.82 on Friday. The company has a market capitalization of C$6.94 billion, a P/E ratio of 34.28, a PEG ratio of 0.47 and a beta of 0.79. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. PrairieSky Royalty Ltd. has a fifty-two week low of C$21.97 and a fifty-two week high of C$30.69. The stock has a 50-day simple moving average of C$27.84 and a 200-day simple moving average of C$26.12.

Analyst Ratings Changes

Several research firms recently commented on PSK. TD Securities upped 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. National Bank Financial upped their target price on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. BMO Capital Markets raised their price target on PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Tuesday. Raymond James Financial upgraded PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and boosted their price target for the company from C$30.00 to C$35.00 in a research report on Tuesday, December 9th. Finally, Scotiabank increased their price objective on 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 equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$31.57.

PrairieSky Royalty Company Profile

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.