PrairieSky Royalty Receives a Hold from BMO Capital

By Jason Carr

PrairieSky Royalty (TSX: PSK), the Materials sector company, was revisited by a Wall Street analyst yesterday. Analyst Randy Ollenberger from BMO Capital rated PrairieSky Royalty (TSX: PSK) a Hold, setting a C$30 price target.

According to TipRanks.com, Ollenberger is ranked 0 out of 5 stars with an average return of -11.2% and a 25.6% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Sanchez Energy Corporation, and Spectra Energy Partners.

PrairieSky Royalty has an analyst consensus of Moderate Buy, with a price target consensus of C$34.17.

Based on PrairieSky Royalty’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$80.3 million and quarterly net profit of C$20.8 million. In comparison, last year the company earned revenue of C$48.9 million and had a net profit of C$1.7 million.

PrairieSky Royalty Ltd. engages in collecting royalties from petroleum and natural gas production on its vast fee-simple and gross overriding royalty lands. The company was founded on November 27, 2013 and is headquartered in Calgary, Canada.

The company’s shares closed on Monday at $29.31.