CIBC Lowers PrairieSky Royalty (TSE:PSK) to Neutral

PrairieSky Royalty (TSE:PSK) was downgraded by research analysts at CIBC from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday, BayStreet.CA reports. They presently have a C$31.00 target price on the stock, up from their prior target price of C$27.50. CIBC’s target price suggests a potential upside of 14.64% from the company’s previous close.

PSK has been the subject of several other research reports. BMO Capital Markets set a C$30.00 price target on shares of PrairieSky Royalty and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Raymond James cut their target price on PrairieSky Royalty from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Canaccord Genuity Group upped their price target on PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. ATB Capital lifted their price objective on PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a “sector perform” rating in a report on Wednesday, March 20th. Finally, National Bankshares boosted 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, April 19th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, PrairieSky Royalty presently has an average rating of “Hold” and an average price target of C$27.30.

PrairieSky Royalty Stock Performance

PSK opened at C$27.04 on Monday. The stock’s 50 day simple moving average is C$25.74 and its 200-day simple moving average is C$24.41. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 6.80. The stock has a market cap of C$6.46 billion, a PE ratio of 28.46, a P/E/G ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a 1 year low of C$20.60 and a 1 year high of C$28.42.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings results on Monday, February 12th. The company reported C$0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.22 by C$0.06. The firm had revenue of C$136.60 million for the quarter. PrairieSky Royalty had a net margin of 47.46% and a return on equity of 8.22%. Sell-side analysts forecast that PrairieSky Royalty will post 1.0488722 EPS for the current year.

Insider Activity at PrairieSky Royalty

In other news, Director Glenn Mcnamara purchased 12,800 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of C$23.28 per share, with a total value of C$297,999.36. In other news, Director Glenn Mcnamara acquired 12,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average cost of C$23.28 per share, for a total transaction of C$297,999.36. Also, Director Leanne M. Bellegarde sold 6,650 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$25.78, for a total value of C$171,437.00. 0.54% of the stock is currently owned by insiders.

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.