Insider Buying: PrairieSky Royalty Ltd. (TSE:PSK) Senior Officer Purchases 20,000 Shares of Stock

PrairieSky Royalty Ltd. (TSE:PSK) Senior Officer Andrew Phillips bought 20,000 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, April 16th. The stock was bought at an average price of C$23.70 per share, with a total value of C$473,962.00.

PrairieSky Royalty Stock Up 0.5 %

PSK stock opened at C$23.72 on Thursday. PrairieSky Royalty Ltd. has a twelve month low of C$21.97 and a twelve month high of C$30.66. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48. The company has a market cap of C$5.66 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The business’s 50-day simple moving average is C$25.77 and its 200 day simple moving average is C$27.42.

Wall Street Analysts Forecast Growth

PSK has been the topic of a number of recent analyst reports. CIBC dropped their price target on shares of PrairieSky Royalty from C$31.50 to C$28.00 in a research report on Thursday, April 10th. TD Securities raised shares of PrairieSky Royalty from a “hold” rating to a “buy” rating and set a C$27.00 target price for the company in a research report on Wednesday, April 9th. Scotiabank raised PrairieSky Royalty to a “hold” rating in a research report on Wednesday, March 19th. Finally, National Bankshares increased their target price on PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$30.44.

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.