PrairieSky Royalty (TSE:PSK) Stock Price Target Raised at National Bank Financial

Key Points

• National Bank Financial raised PrairieSky Royalty’s price target to C$43.00 from C$42.00 and maintained an “outperform” rating, implying 18.10% potential upside.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average target price of C$35.75; RBC also recently raised its target to C$38.00.
• PrairieSky shares traded at C$36.41, near their 12-month high of C$37.29. Insiders recently purchased shares, including notable buys by Andrew Phillips and Pamela Pearl Kazeil.

PrairieSky Royalty (TSE:PSK - Get Free Report) had its price objective lifted by investment analysts at National Bank Financial from C$42.00 to C$43.00 in a report released on Tuesday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price points to a potential upside of 18.10% from the company's current price.

Separately, Royal Bank Of Canada upped their price objective on shares of PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$35.75.

PrairieSky Royalty Price Performance

PSK stock traded up C$0.36 during mid-day trading on Tuesday, reaching C$36.41. 108,359 shares of the company's stock were exchanged, compared to its average volume of 494,686. The company has a market cap of C$8.46 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The stock's 50 day moving average is C$35.18 and its 200 day moving average is C$33.94. The company has a debt-to-equity ratio of 6.88, a current ratio of 0.90 and a quick ratio of 0.65. PrairieSky Royalty has a 12-month low of C$24.76 and a 12-month high of C$37.29.

Insider Buying and Selling at PrairieSky Royalty

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