Raymond James analyst Jeremy Mccrea maintained a Buy rating on PrairieSky Royalty (PREKF – Research Report) today and set a price target of C$27.00. The company’s shares closed last Tuesday at $12.09.
According to TipRanks.com, Mccrea is a 5-star analyst with an average return of 21.1% and a 55.1% success rate. Mccrea covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Crescent Point Energy.
PrairieSky Royalty has an analyst consensus of Moderate Buy, with a price target consensus of $19.10, representing a 52.8% upside. In a report issued on June 30, Stifel Nicolaus also maintained a Buy rating on the stock with a C$23.75 price target.
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The company has a one-year high of $16.26 and a one-year low of $8.30. Currently, PrairieSky Royalty has an average volume of 22.18K.
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.
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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.
Read More on PREKF:
- Raymond James Keeps a Buy Rating on Freehold Royalties (FRHLF)
- Raymond James Remains a Buy on Tamarack Valley Energy (TNEYF)
- Raymond James Maintains a Buy Rating on Paramount Resources (PRMRF)
- Birchcliff Energy (BIREF) Receives a Buy from Raymond James
- Analyst Provides Guidance for This Canadian Energy Company
