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

PrairieSky Royalty (TSE:PSK) had its target price boosted by analysts at Royal Bank of Canada from C$26.00 to C$27.00 in a research report issued on Tuesday, BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. ATB Capital boosted their target price on PrairieSky Royalty from C$26.50 to C$27.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 20th. Canaccord Genuity Group boosted their target price on PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. National Bankshares boosted their target price on PrairieSky Royalty from C$15.00 to C$18.50 and gave the company an “outperform” rating in a research note on Friday. Raymond James lowered 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 note on Friday, January 19th. Finally, CIBC lowered PrairieSky Royalty from an “outperform” rating to a “neutral” rating and boosted their target price for the company from C$27.50 to C$31.00 in a research note on Monday. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$27.30.

PrairieSky Royalty Price Performance

TSE:PSK traded down C$0.45 during trading hours on Tuesday, hitting C$27.00. 274,354 shares of the company’s stock traded hands, compared to its average volume of 294,160. The firm has a market cap of C$6.45 billion, a P/E ratio of 28.42, a P/E/G ratio of 0.47 and a beta of 1.81. PrairieSky Royalty has a 52 week low of C$20.60 and a 52 week high of C$28.42. The business’s fifty day simple moving average is C$25.65 and its two-hundred day simple moving average is C$24.39. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80.

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

Insider Activity at PrairieSky Royalty

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