PrairieSky Royalty (TSE:PSK) Share Price Passes Above Fifty Day Moving Average - Should You Sell?

Key Points

• PrairieSky Royalty Ltd. shares have recently traded above their 50-day moving average, reaching a price of C$26.42 with a significant trading volume of 408,589 shares.
• Wall Street analysts have mixed ratings on PrairieSky, with a consensus rating of "Moderate Buy" and a price target of C$29.33, while a recent report increased the price objective from C$28.00 to C$29.00.
• The company declared a quarterly dividend of $0.26 per share, scheduled for payment on October 15th, representing an annualized yield of 3.9% and a payout ratio of 109.68%.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$24.26 and traded as high as C$26.52. PrairieSky Royalty shares last traded at C$26.42, with a volume of 408,589 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PSK. Raymond James Financial upped their price objective on PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a "market perform" rating in a report on Tuesday, July 15th. Canaccord Genuity Group dropped their price objective on PrairieSky Royalty from C$26.00 to C$25.00 and set a "hold" rating for the company in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$29.33.

PrairieSky Royalty Stock Up 1.2%

The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65. The company has a market capitalization of C$6.22 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 0.47 and a beta of 0.73. The firm has a 50-day moving average price of C$24.26 and a two-hundred day moving average price of C$24.08.

PrairieSky Royalty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, September 29th. PrairieSky Royalty's dividend payout ratio is currently 109.68%.

PrairieSky Royalty Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.