00:04:09 EDT Sat 10 Jun 2023
Enter Symbol
or Name

PrairieSky Royalty Ltd
Symbol PSK
Shares Issued 238,802,700
Close 2022-06-09 C$ 19.55
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Globe says PrairieSky Royalty kept at "sector perform"

2022-06-09 07:51 ET - In the News

The Globe and Mail reports in its Thursday, June 9, edition that Scotia Capital analyst Jason Bouvier continues to see "significant tailwinds" for the Canadian energy industry stemming from surging commodity prices. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bouvier says in a note: "Capital discipline remains strong and balance sheets continue to strengthen at a rapid pace. Dividends have been on the rise and we expect a shift to special/variable dividends (ie: more investor returns) in 2023." With stocks in his Canadian oil-weighted coverage universe up 64 per cent thus far in 2022, Mr. Bouvier expects the trend upward to continue, leading him to raise his unit target for royalty company PrairieSky Royalty to $21 from $20. Mr. Bouvier continues to rate PrairieSky Royalty "sector perform." Analysts on average target the units at $22.77. Mr. Bouvier adds, "In our view, on balance, the robust commodity price environment, continued capital discipline and strengthening balance sheets outweigh the headwinds industry is facing." The Globe reported on March 24, 2022, that RBC saw PrairieSky making gains. It was then worth $17.47.

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