PrairieSky Royalty (TSE:PSK) Price target raised to C$23.75 by Stifel Nicolaus analysts

PrairieSky Royalty (TSE:PSK – Get Rating) had its price target raised by analysts at Stifel Nicolaus from CA$23.50 to CA$23.75 in a research note released on Monday, BayStreet.CA reports. Stifel Nicolaus’ price target suggests a potential upside of 45.17% from the current share price.

PSK has been the subject of a number of other research reports. Scotiabank raised its price target on shares of PrairieSky Royalty from C$20.00 to C$21.00 in a Wednesday, June 8 report. BMO Capital Markets raised its target price on PrairieSky Royalty from C$20.00 to C$23.00 in a Monday, March 14 research note. Royal Bank of Canada raised its price target on PrairieSky Royalty from C$21.00 to C$22.00 and gave the company an “sector performance” rating in a research report on Tuesday, April 19. Raymond James set a price target of C$26.00 on PrairieSky Royalty and gave the stock an “outperform” rating in a Tuesday, April 19 report. Finally, National Bankshares raised its price target on PrairieSky Royalty shares from C$23.00 to C$24.00 and gave the company an “industry performance” rating in a Tuesday, April 19 report. Six research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$20.86.

TSE PSK traded down C$0.15 on Monday, hitting C$16.36. 301,900 shares of the company have been traded, against an average volume of 580,276. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt ratio of 22.28. The company’s 50-day moving average price is CA$17.98 and its 200-day moving average price is CA$16.86. The stock has a market capitalization of C$3.91 billion and a P/E ratio of 22.19. PrairieSky Royalty has a fifty-two week minimum of C$12.75 and a fifty-two week maximum of C$20.42.

PrairieSky Royalty (TSE:PSK – Get Rating) last announced its quarterly results on Monday, April 18. The company reported earnings per share of C$0.27 for the quarter, missing the consensus estimate of C$0.30 by C$0.03. The company had revenue of C$139.90 million for the quarter. Equity research analysts expect PrairieSky Royalty to post earnings per share of 1.1200001 for the current year.

In other news, Senior Officer Andrew Phillips acquired 4,000 shares of the company in a transaction on Monday April 25. The shares were purchased at an average cost of CA$16.66 per share, for a total value of CA$66,637.60. As a result of the transaction, the insider now owns 644,804 shares of the company, valued at approximately C$10,742,047.76. Additionally, director Myron Maurice Stadnyk acquired 2,000 shares of PrairieSky Royalty in a trade dated Thursday, April 21. The shares were purchased at an average price of CA$18.41 per share, for a total transaction of CA$36,812.40. Following the completion of the acquisition, the administrator now directly owns 27,000 shares of the company, valued at approximately C$496,967.40. Insiders have acquired a total of 15,000 shares of the company worth $266,652 over the past three months.

About PrairieSky Royalty (Get a rating)

PrairieSky Royalty Ltd. holds crude oil and natural gas royalty interests in Alberta, Saskatchewan, British Columbia and Manitoba in Canada. It has an interest in approximately 9.8 million acres with oil and/or natural gas rights; 8.5 million acres of gross overriding royalties; approximately 0.3 million acres of GRT interests; and other surfaces.

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