Insider Buying: PrairieSky Royalty (TSE:PSK) Insider Acquires C$219,240.00 in Stock

PrairieSky Royalty Ltd. (TSE:PSK) insider Andrew Phillips purchased 6,300 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was acquired at an average cost of C$34.80 per share, with a total value of C$219,240.00. Following the transaction, the insider directly owned 919,602 shares of the company’s stock, valued at approximately C$32,002,149.60. This represents a 0.69% increase in their ownership of the stock.

PrairieSky Royalty Stock Up 0.8%

Shares of TSE PSK opened at C$34.78 on Friday. PrairieSky Royalty Ltd. has a 1 year low of C$25.50 and a 1 year high of C$38.08. The company has a 50-day moving average price of C$35.29 and a 200-day moving average price of C$33.32. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.75 and a quick ratio of 0.65. The stock has a market capitalization of C$8.08 billion, a P/E ratio of 28.98, a P/E/G ratio of 0.47 and a beta of 0.87.

PrairieSky Royalty (TSE:PSK) last issued its quarterly earnings results on Monday, October 26th. The company reported C$0.36 EPS for the quarter. PrairieSky Royalty had a return on equity of 10.96% and a net margin of 47.60%. The business had revenue of C$165.00 million during the quarter.

PrairieSky Royalty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 15th were paid a $0.2650 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, September 29th. PrairieSky Royalty’s payout ratio is currently 87.92%.

Analyst Ratings Changes

Several research firms have recently commented on PSK. Royal Bank Of Canada raised their price target on PrairieSky Royalty from C$39.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. BMO Capital Markets raised their target price on PrairieSky Royalty from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a report on Tuesday, October 27th. Raymond James Financial raised their target price on shares of PrairieSky Royalty from C$39.00 to C$42.00 and gave the company a “market perform” rating in a report on Wednesday, October 28th. National Bank Financial raised their price objective on shares of PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a report on Tuesday, October 20th. Finally, Scotia upped their target price on shares of PrairieSky Royalty from C$36.00 to C$37.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$38.29.

About PrairieSky Royalty

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.