PrairieSky Royalty (TSE:PSK) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of PrairieSky Royalty Ltd. (TSE:PSK) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$27.93 and traded as high as C$29.62. PrairieSky Royalty shares last traded at C$29.62, with a volume of 345,049 shares trading hands.

Analysts Set New Price Targets

Several analysts have issued reports on PSK shares. Raymond James raised shares of PrairieSky Royalty to a “hold” rating in a research report on Thursday, October 17th. National Bankshares raised their target price on PrairieSky Royalty from C$33.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. TD Securities boosted their price target on PrairieSky Royalty from C$25.00 to C$26.00 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. Atb Cap Markets upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada upgraded shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$31.00 to C$33.00 in a research note on Tuesday, September 17th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, PrairieSky Royalty presently has an average rating of “Moderate Buy” and a consensus target price of C$30.80.

PrairieSky Royalty Price Performance

The firm has a market capitalization of C$7.31 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company’s fifty day moving average price is C$28.07 and its 200 day moving average price is C$27.20. The company has a debt-to-equity ratio of 5.40, a quick ratio of 0.65 and a current ratio of 0.30.

PrairieSky Royalty Announces Dividend

The business also recently declared 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 dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, September 27th. PrairieSky Royalty’s dividend payout ratio (DPR) is 104.17%.

Insiders Place Their Bets

In other PrairieSky Royalty news, Senior Officer Daniel James Bertram purchased 7,670 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of C$28.20 per share, with a total value of C$216,290.93. 0.54% of the stock is owned by corporate insiders.

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.