Pason Systems (TSE:PSI) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Pason Systems Inc. (TSE:PSI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$12.80 and traded as high as C$13.04. Pason Systems shares last traded at C$12.64, with a volume of 144,530 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSI. TD Securities reduced their price objective on shares of Pason Systems from C$16.00 to C$13.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Royal Bank Of Canada cut their target price on Pason Systems from C$18.00 to C$16.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th.

Pason Systems Stock Down 0.8%

The company has a market capitalization of C$1.00 billion, a P/E ratio of 8.88, a PEG ratio of 10.78 and a beta of 1.58. The company has a debt-to-equity ratio of 3.19, a quick ratio of 3.54 and a current ratio of 2.59. The stock has a 50 day moving average price of C$11.84 and a 200 day moving average price of C$12.78.

Pason Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.52 dividend on an annualized basis and a yield of 4.13%. Pason Systems's dividend payout ratio (DPR) is presently 36.70%.

Insiders Place Their Bets

In other news, Director James Lee Bowzer bought 2,500 shares of the stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of C$11.32 per share, for a total transaction of C$28,303.88. Also, Senior Officer Lars Olesen sold 2,200 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of C$12.02, for a total value of C$26,444.00. Over the last 90 days, insiders have sold 24,900 shares of company stock valued at $303,440. Company insiders own 0.13% of the company's stock.

Pason Systems Company Profile

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.