PrairieSky Royalty (OTCMKTS:PREKF) Trading Up 0.9% – Still a Buy?

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

Wall Street Analysts Forecast Growth

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

PrairieSky Royalty Trading Up 0.9%

The firm’s 50 day moving average is $19.30 and its two-hundred day moving average is $18.27.

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.