Opinions
Eric Nuttall
PrairieSky Royalty
PSK-T
HOLD
Jan 27, 2023
Always trading at premium since IPO.
Doesn't have same reverence as other royalty names in the market.
Sees 50% upside and not as much as other energy companies.
Better names out there.
$22.820
Stock price when the opinion was issued
0
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TOP PICK
Stockchase Research Editor: Michael O'Reilly We reiterate PSK, a oil and gas royalty, generating strong cash flow, as a TOP PICK. The company avoids the capital investment treadmill of a traditional oil and gas producer, yet it has tripled its acreage exposure over the past eight years and has used its free cash flow to rapidly pay down debt. Even at $50 WTI prices, the company will produce sufficient free cash flow to allow it to expand its portfolio further. We recommend trailing up the stop loss (from $14.50) to $15.75, looking to achieve $22.50 -- upside potential over 19%. Yield 2.54% (Analysts’ price target is $22.21)
PAST TOP PICK
(A Top Pick Sep 20/22, Up 20.6%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with PSK has achieved its $22.50 target. To remain disciplined, we recommend covering half the position at this time and maintaining the stop at $20. If triggered, this would result in a net investment gain of 15%, when combined with this recommendation to cover half.
PAST TOP PICK
(A Top Pick Sep 20/23, Up 23.3%)Stockchase Research Editor: Michael O'Reilly
Our PAST TOP PICK with PSK has triggered its stop at $23. To remain disciplined, we recommend covering the position at this time. This will result in a net investment gain of 27%, when combined with our previous recommendations.
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