PrairieSky Royalty (TSE:PSK) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

PrairieSky Royalty Ltd. (TSE:PSK)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$27.66 and traded as high as C$28.86. PrairieSky Royalty shares last traded at C$28.71, with a volume of 705,176 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on PSK. BMO Capital Markets boosted their price target on shares of PrairieSky Royalty from C$33.00 to C$34.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Atb Cap Markets raised shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Scotiabank boosted their target price on shares of PrairieSky Royalty from C$29.00 to C$31.00 in a research note on Friday, July 12th. Royal Bank of Canada raised shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from C$31.00 to C$33.00 in a research note on Tuesday, September 17th. Finally, Raymond James upgraded shares of PrairieSky Royalty to a “hold” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, PrairieSky Royalty has a consensus rating of “Moderate Buy” and a consensus target price of C$30.80.

PrairieSky Royalty Stock Up 3.1 %

The business has a fifty day moving average of C$27.66 and a 200 day moving average of C$27.07. The company has a current ratio of 0.30, a quick ratio of 0.65 and a debt-to-equity ratio of 5.40. The company has a market capitalization of C$6.86 billion, a PE ratio of 29.91, a PEG ratio of 0.47 and a beta of 1.78.

PrairieSky Royalty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.48%. The ex-dividend date was Friday, September 27th. PrairieSky Royalty’s dividend payout ratio (DPR) is 104.17%.

Insiders Place Their Bets

In related news, Senior Officer Daniel James Bertram bought 7,670 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of C$28.20 per share, with a total value of C$216,290.93. 0.54% of the stock is currently owned by corporate insiders.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.