PrairieSky Royalty (TSE:PSK) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

PrairieSky Royalty (TSE:PSK) had its target price increased by stock analysts at Royal Bank Of Canada from C$38.00 to C$39.00 in a research note issued to investors on Wednesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 7.35% from the company’s previous close.

Separately, National Bank Financial lifted their price target on shares of PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$35.92.

PrairieSky Royalty Stock Performance

PSK stock traded up C$0.01 during midday trading on Wednesday, reaching C$36.33. 601,938 shares of the company’s stock traded hands, compared to its average volume of 495,693. PrairieSky Royalty has a 52-week low of C$24.76 and a 52-week high of C$37.29. The stock has a market cap of C$8.44 billion, a P/E ratio of 34.93, a PEG ratio of 0.47 and a beta of 0.82. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 6.88. The stock’s 50-day moving average is C$35.21 and its 200 day moving average is C$33.97.

Insider Activity

In related news, insider Pamela Pearl Kazeil purchased 2,500 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was acquired at an average price of C$33.42 per share, with a total value of C$83,550.00. Following the completion of the acquisition, the insider owned 3,220 shares of the company’s stock, valued at approximately C$107,612.40. This trade represents a 347.22% increase in their position. Also, insider Andrew Phillips purchased 3,500 shares of PrairieSky Royalty stock in a transaction on Wednesday, August 5th. The stock was bought at an average price of C$33.26 per share, with a total value of C$116,410.00. Following 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. Insiders own 0.54% of the company’s stock.

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.