PrairieSky Royalty (TSE:PSK) Share Price Crosses Above 50 Day Moving Average of $17.91

PrairieSky Royalty Ltd. (TSE:PSKGet Rating)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$17.91 and traded as high as C$19.23. PrairieSky Royalty shares last traded at C$18.69, with a volume of 365,951 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on PSK. BMO Capital Markets boosted their price target on PrairieSky Royalty from C$23.00 to C$25.00 in a report on Tuesday, July 19th. National Bankshares lowered their price target on PrairieSky Royalty from C$27.00 to C$25.00 and set a “sector perform” rating for the company in a report on Monday, July 18th. Raymond James boosted their price target on PrairieSky Royalty from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a report on Tuesday, July 5th. Canaccord Genuity Group set a C$21.75 price target on PrairieSky Royalty and gave the stock a “buy” rating in a report on Thursday, August 25th. Finally, Royal Bank of Canada boosted their price target on PrairieSky Royalty from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PrairieSky Royalty has a consensus rating of “Moderate Buy” and an average target price of C$21.98.

PrairieSky Royalty Stock Performance

The company has a market capitalization of C$4.16 billion and a PE ratio of 16.52. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 17.37. The company has a 50-day moving average price of C$17.96 and a two-hundred day moving average price of C$17.76.

PrairieSky Royalty (TSE:PSKGet Rating) last posted its earnings results on Monday, July 18th. The company reported C$0.46 EPS for the quarter, topping the consensus estimate of C$0.38 by C$0.08. The business had revenue of C$198.10 million for the quarter. Analysts predict that PrairieSky Royalty Ltd. will post 1.26 EPS for the current fiscal year.

PrairieSky Royalty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Wednesday, September 28th. PrairieSky Royalty’s payout ratio is 39.25%.

Insider Transactions at PrairieSky Royalty

In other news, Senior Officer Andrew Phillips purchased 7,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were purchased at an average cost of C$18.09 per share, with a total value of C$126,648.20. Following the acquisition, the insider now directly owns 662,204 shares of the company’s stock, valued at C$11,980,992.09.

PrairieSky Royalty Company Profile

(Get Rating)

PrairieSky Royalty Ltd. holds crude oil and natural gas royalty interests in Alberta, Saskatchewan, British Columbia, and Manitoba of Canada. It holds an interest in approximately 9.8 million acres with petroleum and/or natural gas rights; 8.5 million acres of gross overriding royalty interests; approximately 0.3 million acres of the GRT interests; and other acreage.

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