PrairieSky Royalty (TSE:PSK) Stock Rating Upgraded by Royal Bank of Canada

PrairieSky Royalty (TSE:PSK) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a C$33.00 price objective on the stock, up from their previous price objective of C$31.00.

A number of other equities research analysts have also weighed in on the stock. Scotiabank raised their price target on shares of PrairieSky Royalty from C$29.00 to C$31.00 in a report on Friday, July 12th. ATB Capital upped their price objective on shares of PrairieSky Royalty from C$28.50 to C$30.00 in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$29.17.

PrairieSky Royalty Price Performance

The company has a debt-to-equity ratio of 5.40, a current ratio of 0.30 and a quick ratio of 0.65. PrairieSky Royalty has a 1 year low of C$21.22 and a 1 year high of C$28.59. The stock has a market capitalization of C$6.57 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 0.47 and a beta of 1.79. The stock has a fifty day moving average of C$27.18 and a 200-day moving average of C$26.59.

PrairieSky Royalty (TSE:PSK) last released its quarterly earnings results on Monday, July 15th. The company reported C$0.25 earnings per share for the quarter. PrairieSky Royalty had a return on equity of 8.37% and a net margin of 46.81%. The firm had revenue of C$135.60 million during the quarter.

About PrairieSky Royalty

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.