PrairieSky Royalty (TSE:PSK) Stock Price Expected to Rise, Scotia Analyst Says

Key Points

• Scotia raised PrairieSky Royalty’s price target from C$36 to C$37 while maintaining a “sector perform” rating, implying virtually no upside or a 0.11% downside from the prior close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of C$36.93; National Bank Financial and RBC also recently raised their targets and reiterated “outperform” ratings.
• PrairieSky shares rose 0.9% to C$37.04, near their 52-week high, after the company reported quarterly EPS of C$0.36 and revenue of C$165 million. Two insiders also purchased shares in August.

PrairieSky Royalty (TSE:PSK - Get Free Report) had its target price raised by Scotia from C$36.00 to C$37.00 in a research note issued to investors on Tuesday, BayStreet reports. The brokerage currently has a "sector perform" rating on the stock. Scotia's price target points to a potential downside of 0.11% from the company's previous close.

Other analysts have also issued research reports about the company. National Bank Financial lifted their price objective on PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an "outperform" rating in a report on Tuesday, October 20th. Royal Bank Of Canada increased 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 report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$36.93.

PrairieSky Royalty Stock Up 0.9%

TSE:PSK traded up C$0.34 on Tuesday, hitting C$37.04. 469,688 shares of the company's stock traded hands, compared to its average volume of 494,021. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 6.88. PrairieSky Royalty has a 1 year low of C$24.76 and a 1 year high of C$38.08. The firm has a 50-day moving average price of C$35.28 and a 200-day moving average price of C$32.85. The company has a market cap of C$8.61 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82.

PrairieSky Royalty (TSE:PSK - Get Free Report) last posted its earnings results on Monday, October 26th. The company reported C$0.36 EPS for the quarter. The company 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 Buying and Selling

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

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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