PrairieSky Royalty (TSE:PSK) Rating Lowered to “Market Perform” at Raymond James Financial

PrairieSky Royalty (TSE:PSK) was downgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday,BayStreet.CA reports. They currently have a C$35.50 target price on the stock, up from their prior target price of C$35.00. Raymond James Financial’s price target would indicate a potential upside of 9.50% from the stock’s current price.

Other research analysts have also issued reports about the stock. Scotiabank lifted their price objective on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 10th. TD Securities raised their target price on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. National Bank Financial lifted their price target on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Finally, BMO Capital Markets upped their price target on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$31.64.

PrairieSky Royalty Trading Down 2.4%

Shares of TSE PSK traded down C$0.79 during trading hours on Monday, hitting C$32.42. 253,340 shares of the company traded hands, compared to its average volume of 541,859. The stock has a market capitalization of C$7.54 billion, a price-to-earnings ratio of 37.26, a price-to-earnings-growth ratio of 0.47 and a beta of 0.65. The company has a current ratio of 0.64, a quick ratio of 0.65 and a debt-to-equity ratio of 9.54. The company’s 50 day moving average price is C$30.48 and its 200 day moving average price is C$27.72. PrairieSky Royalty has a 12 month low of C$21.97 and a 12 month high of C$33.40.

Insider Buying and Selling

In other PrairieSky Royalty news, Director Margaret Anne Mckenzie bought 8,400 shares of PrairieSky Royalty stock in a transaction on Wednesday, February 11th. The shares were acquired at an average price of C$29.92 per share, for a total transaction of C$251,328.00. Following the completion of the purchase, the director directly owned 68,850 shares in the company, valued at approximately C$2,059,992. This trade represents a 13.90% increase in their position. 0.54% of the stock is owned by company insiders.

About PrairieSky Royalty

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.