Q3 CFPS of $0.28 (dil.) was in line with consensus, as was production, which was up 2% Q/Q (liquids up 1% Q/Q). Management continues to expect oil production to grow in Q4. We have nudged our ‘19e/’20e CFPS estimates down 2%/3%, on reductions to oil forecasts, partly offset by increased NGLs forecasts. TP lowered by $0.50 to $29.00/share, reflecting the average calculated Atax NPV5 of our new DCF model at our deck and the strip.
30 Oct 2018
PSK reports a solid 3Q18 update - BUY
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
PSK reports a solid 3Q18 update - BUY
PrairieSky Royalty Ltd (PSK:TSE) | 0 0 0.0% | Mkt Cap: 6,860m
- Published:
30 Oct 2018 -
Author:
Michael P. Dunn -
Pages:
10
Q3 CFPS of $0.28 (dil.) was in line with consensus, as was production, which was up 2% Q/Q (liquids up 1% Q/Q). Management continues to expect oil production to grow in Q4. We have nudged our ‘19e/’20e CFPS estimates down 2%/3%, on reductions to oil forecasts, partly offset by increased NGLs forecasts. TP lowered by $0.50 to $29.00/share, reflecting the average calculated Atax NPV5 of our new DCF model at our deck and the strip.