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

PrairieSky Royalty Ltd. (TSE:PSK) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$31.57.

A number of analysts have recently issued reports on the stock. Natl Bk Canada raised shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Raymond James Financial upgraded shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and increased their price objective for the company from C$30.00 to C$35.00 in a research report on Tuesday, December 9th. Scotiabank raised their target price on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 10th. TD Securities boosted their target price on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Finally, BMO Capital Markets increased their price target on PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th.

Insider Transactions at PrairieSky Royalty

In other news, Director Margaret Anne Mckenzie purchased 8,400 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was acquired at an average cost 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 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.

PrairieSky Royalty Trading Up 0.0%

Shares of TSE:PSK opened at C$29.82 on Tuesday. The company has a market cap 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 current ratio of 0.63 and a quick ratio of 0.65. PrairieSky Royalty has a 1 year low of C$21.97 and a 1 year high of C$30.69. The stock’s fifty day moving average price is C$27.88 and its 200-day moving average price is C$26.19.

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.