PrairieSky Royalty (TSE:PSK) Given New C$42.00 Price Target at Raymond James Financial

PrairieSky Royalty (TSE:PSK) had its target price raised by Raymond James Financial from C$39.00 to C$42.00 in a report released on Wednesday, BayStreet reports. The firm presently has a “market perform” rating on the stock. Raymond James Financial‘s price objective indicates a potential upside of 12.96% from the company’s current price.

Several other equities research analysts also recently commented on the stock. Royal Bank Of Canada upped their price target on shares of PrairieSky Royalty from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. BMO Capital Markets boosted their target price on shares of PrairieSky Royalty from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research note on Tuesday. National Bank Financial boosted their target price on shares of 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 increased their target price on PrairieSky Royalty from C$36.00 to C$37.00 and gave the company a “sector perform” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$38.29.

PrairieSky Royalty Trading Up 1.0%

PSK traded up C$0.37 during trading on Wednesday, reaching C$37.18. The company had a trading volume of 235,729 shares, compared to its average volume of 494,390. The firm’s 50-day simple moving average is C$35.35 and its 200 day simple moving average is C$32.96. The company has a market cap of C$8.64 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 0.47 and a beta of 0.82. PrairieSky Royalty has a 12-month low of C$24.76 and a 12-month high of C$38.08. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.65 and a current ratio of 0.90.

PrairieSky Royalty (TSE:PSK) last posted its quarterly earnings data on Monday, October 26th. The company reported C$0.36 EPS for the quarter. PrairieSky Royalty had a net margin of 44.86% and a return on equity of 9.48%. The company had revenue of C$165.00 million during the quarter.

Insider Transactions at PrairieSky Royalty

In other PrairieSky Royalty news, insider Andrew Phillips bought 3,500 shares of the company’s stock in a transaction dated 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 acquisition, the insider directly owned 93,500 shares of the company’s stock, valued at approximately C$3,109,810. This trade represents a 3.89% increase in their ownership of the stock. Also, insider Pamela Pearl Kazeil purchased 2,500 shares of PrairieSky Royalty stock in a transaction dated Wednesday, August 5th. The stock was bought at an average cost of C$33.42 per share, with a total value of C$83,550.00. Following the completion of the transaction, 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 ownership of the stock. 0.54% of the stock is owned by corporate insiders.

About PrairieSky Royalty

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.