10:28:20 EDT Sun 24 Sep 2023
Enter Symbol
or Name

PrairieSky Royalty Ltd
Symbol PSK
Shares Issued 238,802,700
Close 2022-06-17 C$ 16.77
Recent Sedar Documents

Globe says PrairieSky maintained at "sector perform"

2022-06-17 07:29 ET - In the News

The Globe and Mail reports in its Friday edition that with oil and gas prices continuing to rise "materially," National Bank Financial analysts Travis Wood and Dan Payne have reiterated their bullish stance on the Canadian energy sector, expecting outperformance to continue. The Globe's David Leeder writes in the Eye On Equities column that accordingly, Mr. Wood and Mr. Payne boosted their share target for PrairieSky Royalty by $3 to $27. Analysts on average target the shares at $22.90. Mr. Wood and Mr. Payne continue to rate PrairieSky Royalty "sector perform." In a research report released Thursday, they said they remain constructive on both crude oil and natural gas supply/demand fundamentals. Their 2022 and 2023 total cash flow estimates are up by 21 per cent and 15 per cent, driving an increase of 16 per cent on average to target prices for stocks in their coverage universe. Even with the recent market sell-off, the set-up remains compelling, with our coverage group now trading, on average, at 3.1 times 2023 estimated enterprise value to debt-adjusted cash flow and a FCF yield of more than 20 per cent. The two analysts note that "energy has historically outperformed during inflationary periods."

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