PrairieSky Royalty (TSE:PSK) Stock Passes Above Fifty Day Moving Average of $26.48

PrairieSky Royalty Ltd. (TSE:PSK) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$26.48 and traded as high as C$27.18. PrairieSky Royalty shares last traded at C$25.89, with a volume of 2,594,962 shares trading hands.

Analyst Upgrades and Downgrades

PSK has been the topic of a number of recent analyst reports. Canaccord Genuity Group upped their target price on PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. ATB Capital upped their price target on shares of PrairieSky Royalty from C$27.00 to C$28.50 in a report on Tuesday, April 23rd. Royal Bank of Canada raised their price objective on shares of PrairieSky Royalty from C$26.00 to C$27.00 in a report on Tuesday, April 23rd. BMO Capital Markets upped their target price on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Finally, National Bankshares lifted their price target on PrairieSky Royalty from C$15.00 to C$18.50 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$27.30.

PrairieSky Royalty Trading Down 4.7 %

The firm has a market cap of C$6.19 billion, a P/E ratio of 28.45, a P/E/G ratio of 0.47 and a beta of 1.81. The business’s 50-day moving average is C$26.48 and its two-hundred day moving average is C$24.94. The company has a current ratio of 0.32, a quick ratio of 0.65 and a debt-to-equity ratio of 6.39.

PrairieSky Royalty (TSE:PSK) last posted its earnings results on Monday, April 22nd. The company reported C$0.20 EPS for the quarter, beating the consensus estimate of C$0.19 by C$0.01. The company had revenue of C$120.70 million during the quarter. PrairieSky Royalty had a return on equity of 7.91% and a net margin of 45.90%. As a group, analysts expect that PrairieSky Royalty Ltd. will post 0.9703787 earnings per share for the current fiscal year.

PrairieSky Royalty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Friday, June 28th. PrairieSky Royalty’s payout ratio is 109.89%.

Insider Activity

In other news, Senior Officer Andrew Phillips acquired 3,800 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average price of C$26.72 per share, with a total value of C$101,536.00. Over the last quarter, insiders bought 11,300 shares of company stock valued at $294,989. 0.53% of the stock is currently owned by company 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.