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

PrairieSky Royalty Ltd. (TSE:PSK) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$33.40 and traded as high as C$35.08. PrairieSky Royalty shares last traded at C$34.67, with a volume of 552,807 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Roth Capital raised PrairieSky Royalty to a “strong-buy” rating in a research report on Thursday, April 30th. Royal Bank Of Canada increased their price target on PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PrairieSky Royalty presently has an average rating of “Moderate Buy” and a consensus price target of C$34.42.

PrairieSky Royalty Trading Down 0.5%

The firm has a market cap of C$8.06 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 0.47 and a beta of 0.75. The firm’s 50-day moving average is C$33.40 and its 200-day moving average is C$32.03. The company has a current ratio of 0.90, a quick ratio of 0.65 and a debt-to-equity ratio of 6.88.

PrairieSky Royalty Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio (DPR) is 100.96%.

Insider Activity

In other PrairieSky Royalty news, insider Ian Charles Dundas acquired 7,500 shares of PrairieSky Royalty stock in a transaction dated Friday, June 19th. The stock was purchased at an average cost of C$31.89 per share, for a total transaction of C$239,175.00. Following the completion of the acquisition, the insider directly owned 27,500 shares of the company’s stock, valued at C$876,975. This represents a 37.50% increase in their ownership of the stock. 0.54% of the stock is owned by corporate insiders.

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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.