PrairieSky Royalty (TSE:PSK) Upgraded to “Strong-Buy” at Roth Mkm

Roth Mkm upgraded shares of PrairieSky Royalty (TSE:PSK) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on PSK. TD Securities upped their target price on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Raymond James Financial cut shares of PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and upped their target price for the company from C$35.00 to C$35.50 in a report on Monday, March 30th. National Bank Financial upped their target price on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. 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 research note on Tuesday, February 10th. Finally, Scotiabank upped their price target on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$32.25.

PrairieSky Royalty Stock Performance

Shares of PSK stock traded up C$0.04 on Thursday, reaching C$34.35. The stock had a trading volume of 1,067,275 shares, compared to its average volume of 588,121. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 9.36. The firm’s 50-day moving average is C$31.89 and its two-hundred day moving average is C$28.80. The firm has a market capitalization of C$7.98 billion, a price-to-earnings ratio of 39.94, a P/E/G ratio of 0.47 and a beta of 0.50. PrairieSky Royalty has a 12 month low of C$22.38 and a 12 month high of C$34.50.

Insider Activity

In related news, Director Margaret Anne Mckenzie acquired 8,400 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was acquired at an average price of C$29.92 per share, with a total value of C$251,328.00. Following 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 ownership of the stock. 0.54% of the stock is currently owned by 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.