PrairieSky Royalty (TSE:PSK) Shares Cross Below 200 Day Moving Average - What's Next?

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$26.93 and traded as low as C$22.92. PrairieSky Royalty shares last traded at C$23.12, with a volume of 280,695 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PSK. Scotiabank upgraded shares of PrairieSky Royalty to a "hold" rating in a research note on Wednesday, March 19th. CIBC lowered their target price on PrairieSky Royalty from C$31.50 to C$28.00 in a research note on Thursday, April 10th. TD Securities upgraded PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 price target on the stock in a research note on Wednesday, April 9th. Finally, National Bankshares raised their price objective on PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a "sector perform" rating in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$30.86.

PrairieSky Royalty Price Performance

The stock has a market capitalization of C$5.52 billion, a P/E ratio of 25.63, a PEG ratio of 0.47 and a beta of 1.78. The company has a 50 day moving average of C$24.55 and a 200-day moving average of C$26.87. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48.

Insider Transactions at PrairieSky Royalty

In related news, Senior Officer Pamela Pearl Kazeil acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was purchased at an average cost of C$23.57 per share, for a total transaction of C$47,147.00. Also, Senior Officer Andrew Phillips bought 20,000 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was bought at an average cost of C$23.70 per share, for a total transaction of C$473,962.00. In the last three months, insiders have acquired 23,000 shares of company stock worth $544,674. 0.54% of the stock is currently owned by insiders.

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.