PrairieSky Royalty (TSE:PSK) Hits New 52-Week High – Should You Buy?

PrairieSky Royalty Ltd. (TSE:PSK) shares reached a new 52-week high on Wednesday . The stock traded as high as C$29.15 and last traded at C$29.06, with a volume of 128023 shares traded. The stock had previously closed at C$28.93.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Raymond James raised PrairieSky Royalty to a “hold” rating in a research report on Thursday, October 17th. Atb Cap Markets raised PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. 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 company from C$31.00 to C$33.00 in a research note on Tuesday, September 17th. BMO Capital Markets lifted their target price 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. Finally, TD Securities upped their price target on shares of PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$30.80.

PrairieSky Royalty Stock Performance

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 firm has a market capitalization of C$7.10 billion, a PE ratio of 30.68, a PEG ratio of 0.47 and a beta of 1.78. The firm’s fifty day moving average price is C$27.78 and its 200 day moving average price is C$27.10.

PrairieSky Royalty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.37%. The ex-dividend date was Friday, September 27th. PrairieSky Royalty’s payout ratio is currently 104.17%.

Insider Activity at PrairieSky Royalty

In related news, Senior Officer Daniel James Bertram bought 7,670 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of C$28.20 per share, for a total transaction of C$216,290.93. Insiders own 0.54% of the company’s stock.

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.