RBC Capital analyst Luke Davis maintained a Hold rating on PrairieSky Royalty (PREKF – Research Report) on June 30 and set a price target of C$25.00. The company’s shares closed last Friday at $12.69.
According to TipRanks.com, Davis is a top 100 analyst with an average return of 37.0% and a 58.0% success rate. Davis covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Whitecap Resources.
Currently, the analyst consensus on PrairieSky Royalty is a Moderate Buy with an average price target of $19.03, a 49.9% upside from current levels. In a report issued on June 16, National Bank also maintained a Hold rating on the stock with a C$27.00 price target.
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PrairieSky Royalty’s market cap is currently $3B and has a P/E ratio of 28.82.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PREKF in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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