PrairieSky Royalty (TSE:PSK) Sets New 12-Month High – Here’s What Happened

Shares of PrairieSky Royalty Ltd. (TSE:PSK) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$36.68 and last traded at C$36.68, with a volume of 38625 shares trading hands. The stock had previously closed at C$36.05.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PSK shares. Royal Bank Of Canada increased their target price 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 raised shares of PrairieSky Royalty to a “strong-buy” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$34.42.

PrairieSky Royalty Stock Performance

The firm’s fifty day moving average price is C$33.75 and its 200 day moving average price is C$32.87. The stock has a market capitalization of C$8.57 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 0.47 and a beta of 0.73. 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. Investors of record on Wednesday, July 15th were issued a $0.265 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.9%. PrairieSky Royalty’s payout ratio is 100.96%.

Insider Transactions at PrairieSky Royalty

In related news, insider Pamela Pearl Kazeil acquired 2,500 shares of PrairieSky Royalty stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average cost of C$33.42 per share, for a total transaction of C$83,550.00. Following the completion of the purchase, the insider owned 3,220 shares in the company, valued at approximately C$107,612.40. The trade was a 347.22% increase in their ownership of the stock. Also, insider Ian Charles Dundas purchased 7,500 shares of PrairieSky Royalty stock in a transaction on Friday, June 19th. The stock was bought at an average cost of C$31.89 per share, for a total transaction of C$239,175.00. Following the transaction, the insider directly owned 27,500 shares in the company, valued at C$876,975. This represents a 37.50% increase in their ownership of the stock. Over the last 90 days, insiders have purchased 13,500 shares of company stock valued at $439,135. 0.54% of the stock is currently owned by company 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.