PrairieSky Royalty (OTCMKTS:PREKF) Trading 0.9% Higher – Here’s Why

Shares of PrairieSky Royalty Ltd. (OTCMKTS:PREKF) shot up 0.9% during mid-day trading on Friday . The company traded as high as $19.1320 and last traded at $19.0720. 30,679 shares were traded during trading, an increase of 38% from the average session volume of 22,171 shares. The stock had previously closed at $18.90.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PREKF shares. Scotiabank reaffirmed a “sector perform” rating on shares of PrairieSky Royalty in a research note on Thursday, October 9th. Raymond James Financial upgraded shares of PrairieSky Royalty from a “market perform” rating to an “outperform” rating in a research note on Monday, December 8th. TD Securities reiterated a “buy” rating on shares of PrairieSky Royalty in a research report on Tuesday, September 30th. Finally, CIBC reissued a “neutral” rating on shares of PrairieSky Royalty in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

PrairieSky Royalty Trading Up 0.9%

The stock has a 50-day moving average price of $19.30 and a two-hundred day moving average price of $18.26.

About PrairieSky Royalty

PrairieSky Royalty Ltd (OTCMKTS: PREKF) is a Canadian energy royalty company that acquires and manages a diversified portfolio of oil and natural gas royalty interests. The company’s business model is centered on generating recurring, production-based revenue streams by owning freehold, crown, and overriding royalty interests across key resource plays. By not participating directly in exploration or production, PrairieSky Royalty benefits from lower operating risk and capital expenditure requirements compared with traditional upstream operators.

PrairieSky Royalty’s asset base is concentrated in the Western Canadian Sedimentary Basin, with significant holdings in Saskatchewan and Alberta, as well as smaller interests in British Columbia and Manitoba.