In a report released today, Mike Murphy CFA from BMO Capital maintained a Buy rating on PrairieSky Royalty (PREKF – Research Report), with a price target of C$25.00. The company’s shares closed last Monday at $13.44.
According to TipRanks.com, CFA is a 5-star analyst with an average return of 17.7% and a 52.9% success rate. CFA covers the Utilities sector, focusing on stocks such as Gran Tierra Energy, Advantage Energy, and Frontera Energy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PrairieSky Royalty with a $18.69 average price target, a 39.1% upside from current levels. In a report issued on July 4, Stifel Nicolaus also maintained a Buy rating on the stock with a C$23.75 price target.
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PrairieSky Royalty’s market cap is currently $3.22B and has a P/E ratio of 30.53.
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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