In a report issued on July 11, Luke Davis from RBC Capital maintained a Hold rating on PrairieSky Royalty (PREKF – Research Report), with a price target of C$23.00. The company’s shares closed last Tuesday at $11.94.
According to TipRanks.com, Davis is a 5-star analyst with an average return of 33.9% and a 54.2% success rate. Davis covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Whitecap Resources.
PrairieSky Royalty has an analyst consensus of Moderate Buy, with a price target consensus of $18.81.
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PrairieSky Royalty’s market cap is currently $2.89B and has a P/E ratio of 27.49.
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:
- Kelt Exploration (KELTF) Receives a Buy from RBC Capital
- RBC Capital Sticks to Their Buy Rating for Headwater Exploration (CDDRF)
- RBC Capital Sticks to Its Buy Rating for Birchcliff Energy (BIREF)
- Whitecap Resources (SPGYF) Receives a Buy from RBC Capital
- RBC Capital’s Analyst Provides Guidance for This Canadian Energy Stock
