PrairieSky Royalty (TSE:PSK) Hits New 52-Week High – Should You Buy?

PrairieSky Royalty Ltd. (TSE:PSK) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$29.15 and last traded at C$29.06, with a volume of 128023 shares trading hands. The stock had previously closed at C$28.93.

Wall Street Analysts Forecast Growth

PSK has been the topic of several recent analyst reports. Raymond James raised shares of PrairieSky Royalty to a “hold” rating in a report on Thursday, October 17th. TD Securities boosted their target price on shares of PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a “hold” rating in a research note on Tuesday, October 29th. BMO Capital Markets boosted their target price on shares of PrairieSky Royalty from C$33.00 to C$34.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. ATB Capital boosted their target price on shares of PrairieSky Royalty from C$28.50 to C$30.00 in a research note on Friday, July 19th. Finally, Atb Cap Markets upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, PrairieSky Royalty has an average rating of “Moderate Buy” and an average target price of C$30.80.

PrairieSky Royalty Stock Up 0.8 %

The firm’s 50-day moving average price is C$27.75 and its 200 day moving average price is C$27.09. The firm has a market cap of C$6.97 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a quick ratio of 0.65, a current ratio of 0.30 and a debt-to-equity ratio of 5.40.

PrairieSky Royalty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.43%. The ex-dividend date was Friday, September 27th. PrairieSky Royalty’s payout ratio is currently 104.17%.

Insider Buying and Selling

In related news, Senior Officer Daniel James Bertram acquired 7,670 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of C$28.20 per share, with a total value of C$216,290.93. Corporate insiders own 0.54% of the company’s stock.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.