PrairieSky Royalty (TSE:PSK) Insider Andrew Phillips Acquires 3,500 Shares

Key Points

• Insider Andrew Phillips purchased 3,500 PrairieSky Royalty shares at an average price of C$33.26, investing C$116,410 and increasing his direct ownership to 93,500 shares.
• PrairieSky Royalty shares fell 2.5% to C$33.24, while the company’s quarterly dividend implies an annualized payout of C$1.06 per share and a 3.2% yield.
• Analysts maintain a “Moderate Buy” consensus, with a consensus price target of C$34.42; Royal Bank of Canada recently raised its target to C$38.00.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) insider Andrew Phillips bought 3,500 shares of PrairieSky Royalty stock in a transaction on Wednesday, August 5th. The shares were purchased at an average cost of C$33.26 per share, for a total transaction of C$116,410.00. Following the completion of the purchase, the insider directly owned 93,500 shares of the company's stock, valued at C$3,109,810. This trade represents a 3.89% increase in their ownership of the stock.

PrairieSky Royalty Trading Down 2.5%

TSE:PSK traded down C$0.85 on Wednesday, hitting C$33.24. The stock had a trading volume of 97,700 shares, compared to its average volume of 530,672. The company has a fifty day moving average price of C$33.42 and a two-hundred day moving average price of C$32.18. PrairieSky Royalty Ltd. has a 1-year low of C$23.43 and a 1-year high of C$35.89. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 6.88. The stock has a market cap of C$7.73 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 0.47 and a beta of 0.73.

PrairieSky Royalty Dividend Announcement

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 yield of 3.2%. PrairieSky Royalty's dividend payout ratio is currently 100.96%.

Analysts Set New Price Targets

A number of equities research analysts have commented on PSK shares. Roth Capital upgraded PrairieSky Royalty to a "strong-buy" rating in a research report on Thursday, April 30th. Royal Bank Of Canada upped their price target on PrairieSky Royalty from C$36.00 to C$38.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$34.42.

About PrairieSky Royalty

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.

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