PrairieSky Royalty (TSE:PSK) Insider Acquires 3,500 Shares of Stock

PrairieSky Royalty Ltd. (TSE:PSK) insider Andrew Phillips bought 3,500 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was purchased at an average cost of C$33.26 per share, with a total value of C$116,410.00. Following the completion of the transaction, the insider owned 93,500 shares in the company, valued at C$3,109,810. This represents a 3.89% increase in their ownership of the stock.

PrairieSky Royalty Stock Down 2.5%

Shares of PSK traded down C$0.85 during mid-day trading on Wednesday, hitting C$33.24. 97,700 shares of the company’s stock were exchanged, compared to its average volume of 530,672. The company has a market cap of C$7.73 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 0.47 and a beta of 0.73. PrairieSky Royalty Ltd. has a fifty-two week low of C$23.43 and a fifty-two week high of C$35.89. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.65 and a current ratio of 0.90. The stock’s 50-day moving average is C$33.42 and its 200-day moving average is C$32.18.

PrairieSky Royalty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio is presently 100.96%.

Analysts Set New Price Targets

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

About PrairieSky Royalty

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.