PrairieSky Royalty (TSE:PSK) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised PrairieSky Royalty’s price target from C$39 to C$40 and maintained an “outperform” rating, implying approximately 8% upside. The broader analyst consensus is “Moderate Buy,” with an average target of C$36.93.
• PrairieSky shares rose 0.9% to C$37.04, near their 52-week high of C$38.08. The company recently reported quarterly earnings of C$0.36 per share on revenue of C$165 million.
• Insiders recently purchased shares, including acquisitions by Pamela Pearl Kazeil and Andrew Phillips; insiders collectively own 0.54% of the company.

PrairieSky Royalty (TSE:PSK - Get Free Report) had its price objective raised by research analysts at BMO Capital Markets from C$39.00 to C$40.00 in a research note issued on Tuesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. BMO Capital Markets's price objective would indicate a potential upside of 7.99% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada raised their price objective on shares of PrairieSky Royalty from C$38.00 to C$39.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 21st. National Bank Financial raised their price objective on PrairieSky Royalty from C$42.00 to C$43.00 and gave the company an "outperform" rating in a research note on Tuesday, October 20th. Finally, Scotia upped their price target on shares of PrairieSky Royalty from C$36.00 to C$37.00 and gave the stock a "sector perform" rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$36.93.

PrairieSky Royalty Trading Up 0.9%

Shares of PSK traded up C$0.34 during trading hours on Tuesday, reaching C$37.04. The stock had a trading volume of 469,688 shares, compared to its average volume of 494,021. PrairieSky Royalty has a 52 week low of C$24.76 and a 52 week high of C$38.08. The firm has a 50-day moving average of C$35.28 and a 200 day moving average of C$32.85. The company has a market cap of C$8.61 billion, a P/E ratio of 35.62, a P/E/G ratio of 0.47 and a beta of 0.82. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 6.88.

PrairieSky Royalty (TSE:PSK - Get Free Report) last announced its earnings results on Monday, October 26th. The company reported C$0.36 earnings per share for the quarter. The firm had revenue of C$165.00 million during the quarter. PrairieSky Royalty had a net margin of 44.86% and a return on equity of 9.48%.

Insider Activity at PrairieSky Royalty

In other news, insider Pamela Pearl Kazeil purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was bought at an average cost of C$33.42 per share, for a total transaction of C$83,550.00. Following the acquisition, the insider directly owned 3,220 shares of the company's stock, valued at C$107,612.40. This represents a 347.22% increase in their position. Also, insider Andrew Phillips purchased 3,500 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, August 5th. The shares were acquired at an average price of C$33.26 per share, for a total transaction of C$116,410.00. Following the acquisition, the insider owned 93,500 shares in the company, valued at C$3,109,810. This trade represents a 3.89% increase in their ownership of the stock. 0.54% of the stock is currently owned by insiders.

PrairieSky Royalty Company Profile

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.

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