PrairieSky Royalty (TSE:PSK) Shares Cross Above 50-Day Moving Average – Should You Sell?

PrairieSky Royalty Ltd. (TSE:PSK) shares passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$35.24 and traded as high as C$35.64. PrairieSky Royalty shares last traded at C$35.42, with a volume of 472,362 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. National Bank Financial upped their price objective on PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a report on Tuesday, October 20th. Royal Bank Of Canada increased their price objective 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. Raymond James Financial raised their target price on 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. BMO Capital Markets boosted their target price on shares of PrairieSky Royalty from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 27th. Finally, Scotia upped their price target on shares of PrairieSky Royalty from C$36.00 to C$37.00 and gave the stock a “sector perform” rating in a research note 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 stock. Based on data from MarketBeat, PrairieSky Royalty presently has an average rating of “Moderate Buy” and an average price target of C$38.29.

PrairieSky Royalty Stock Up 2.1%

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 firm’s 50-day simple moving average is C$35.24 and its two-hundred day simple moving average is C$33.39. The company has a market capitalization of C$8.23 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 0.47 and a beta of 0.87.

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

PrairieSky Royalty Dividend Announcement

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 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 29th. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 87.92%.

Insiders Place Their Bets

In other news, insider Andrew Phillips bought 6,300 shares of the stock in a transaction on Wednesday, November 4th. The shares were bought at an average price of C$34.80 per share, with a total value of C$219,240.00. Following the completion of the acquisition, the insider owned 919,602 shares of the company’s stock, valued at approximately C$32,002,149.60. This trade represents a 0.69% increase in their ownership of the stock. Also, Director Margaret Anne Mckenzie purchased 6,000 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was purchased at an average price of C$34.99 per share, with a total value of C$209,940.00. Following the transaction, the director owned 79,400 shares of the company’s stock, valued at approximately C$2,778,206. This represents a 8.17% increase in their ownership of the stock. Over the last ninety days, insiders have bought 14,300 shares of company stock worth $498,300. 0.54% of the stock is owned by corporate insiders.

PrairieSky Royalty Company Profile

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.