Andrew Phillips Purchases 20,000 Shares of PrairieSky Royalty Ltd. (TSE:PSK) Stock

PrairieSky Royalty Ltd. (TSE:PSK) Senior Officer Andrew Phillips bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The shares were purchased at an average price of C$23.70 per share, for a total transaction of C$473,962.00.

PrairieSky Royalty Price Performance

Shares of TSE PSK traded up C$0.12 during midday trading on Wednesday, hitting C$23.72. The company had a trading volume of 865,994 shares, compared to its average volume of 417,283. The firm has a market capitalization of C$5.66 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. PrairieSky Royalty Ltd. has a twelve month low of C$21.97 and a twelve month high of C$30.66. The business has a 50-day simple moving average of C$25.84 and a two-hundred day simple moving average of C$27.45. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. CIBC decreased their price objective on shares of PrairieSky Royalty from C$31.50 to C$28.00 in a research report on Thursday, April 10th. TD Securities raised PrairieSky Royalty from a “hold” rating to a “buy” rating and set a C$27.00 price target for the company in a report on Wednesday, April 9th. Scotiabank raised PrairieSky Royalty to a “hold” rating in a research report on Wednesday, March 19th. Finally, National Bankshares raised their target price on PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$30.44.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas.