PrairieSky Royalty (TSE:PSK) Price Target Increased to C$28.50 by Analysts at ATB Capital

PrairieSky Royalty (TSE:PSK) had its price target raised by analysts at ATB Capital from C$27.00 to C$28.50 in a note issued to investors on Tuesday, BayStreet.CA reports. ATB Capital’s price objective would suggest a potential upside of 5.56% from the stock’s previous close.

Several other analysts also recently issued reports on PSK. Raymond James cut their price target on PrairieSky Royalty from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. National Bankshares raised their price target on PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets raised their price target on PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “hold” rating in a report on Tuesday. Royal Bank of Canada raised their price target on PrairieSky Royalty from C$26.00 to C$27.00 in a report on Tuesday. Finally, Canaccord Genuity Group raised their price target on PrairieSky Royalty from C$24.75 to C$28.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, PrairieSky Royalty presently has an average rating of “Hold” and a consensus target price of C$27.30.

PrairieSky Royalty Stock Performance

TSE:PSK traded down C$0.45 during trading hours on Tuesday, reaching C$27.00. 274,354 shares of the stock were exchanged, compared to its average volume of 294,160. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 6.80. The firm has a 50 day simple moving average of C$25.65 and a 200-day simple moving average of C$24.39. PrairieSky Royalty has a 52 week low of C$20.60 and a 52 week high of C$28.42. The stock has a market capitalization of C$6.45 billion, a P/E ratio of 28.42, a P/E/G ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last released its earnings results on Monday, February 12th. The company reported C$0.28 EPS for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.06. PrairieSky Royalty had a return on equity of 8.22% and a net margin of 47.46%. The company had revenue of C$136.60 million for the quarter. As a group, sell-side analysts forecast that PrairieSky Royalty will post 1.0488722 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Glenn Mcnamara bought 12,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average cost of C$23.28 per share, for a total transaction of C$297,999.36. In other news, Director Leanne M. Bellegarde sold 6,650 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$25.78, for a total value of C$171,437.00. Also, Director Glenn Mcnamara bought 12,800 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of C$23.28 per share, with a total value of C$297,999.36. Insiders own 0.54% of the company’s stock.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.