Royal Bank of Canada Boosts PrairieSky Royalty (TSE:PSK) Price Target to C$27.00

PrairieSky Royalty (TSE:PSK) had its target price hoisted by research analysts at Royal Bank of Canada from C$26.00 to C$27.00 in a report issued on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price target would indicate a potential downside of 0.33% from the company’s current price.

A number of other analysts have also recently weighed in on the company. ATB Capital increased their price target on PrairieSky Royalty from C$26.50 to C$27.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 20th. Raymond James dropped their target price on PrairieSky Royalty from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. CIBC cut 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. BMO Capital Markets upped their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Canaccord Genuity Group increased their price objective on shares of PrairieSky Royalty from C$24.75 to C$28.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$27.30.

PrairieSky Royalty Stock Up 0.2 %

Shares of TSE:PSK opened at C$27.09 on Tuesday. The company’s fifty day moving average is C$25.84 and its two-hundred day moving average is C$24.43. The company has a debt-to-equity ratio of 6.80, a quick ratio of 0.65 and a current ratio of 0.65. PrairieSky Royalty has a 1-year low of C$20.60 and a 1-year high of C$28.42. The stock has a market capitalization of C$6.47 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last announced its quarterly earnings data on Monday, February 12th. The company reported C$0.28 earnings per share for the quarter, beating 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 during the quarter. Equities analysts anticipate that PrairieSky Royalty will post 1.0488722 EPS for the current year.

Insider Activity at PrairieSky Royalty

In related news, Director Glenn Mcnamara purchased 12,800 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of C$23.28 per share, for a total transaction of C$297,999.36. In other news, Director Glenn Mcnamara purchased 12,800 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of C$23.28 per share, with a total value of C$297,999.36. Also, Senior Officer Andrew Phillips acquired 3,800 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average cost of C$26.72 per share, for a total transaction of C$101,536.00. 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.