PrairieSky Royalty (TSE:PSK) Shares Pass Above 50-Day Moving Average - Time to Sell?

Key Points

• PrairieSky passed above its 50-day moving average, trading as high as C$32.01 versus a 50-day MA of C$31.39 and last at C$31.46 on volume of 707,175 shares.
• Analysts are split (three Buys, three Holds) with an average rating of "Moderate Buy" and a consensus price target of C$32.25 after several firms raised their targets recently.
• Director bought 8,400 shares at C$29.92 (a 13.9% increase in her holdings to 68,850 shares); the company has a market cap of C$7.32 billion, P/E 36.16, PEG 0.47, low liquidity ratios (~0.64) and a debt-to-equity of 9.54.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$31.39 and traded as high as C$32.01. PrairieSky Royalty shares last traded at C$31.46, with a volume of 707,175 shares trading hands.

Analyst Ratings Changes

Several research firms recently commented on PSK. Scotiabank increased their price objective on PrairieSky Royalty from C$30.00 to C$31.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 10th. Raymond James Financial downgraded shares of PrairieSky Royalty from a "moderate buy" rating to a "hold" rating and raised their price target for the stock from C$35.00 to C$35.50 in a research note on Monday, March 30th. BMO Capital Markets raised their price target on shares of PrairieSky Royalty from C$32.00 to C$34.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 10th. TD Securities raised their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a "buy" rating in a research note on Tuesday, February 10th. Finally, National Bank Financial boosted their target price on PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an "outperform" rating in a report on Tuesday, February 3rd. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, PrairieSky Royalty currently has an average rating of "Moderate Buy" and a consensus price target of C$32.25.

PrairieSky Royalty Trading Down 0.1%

The stock has a market capitalization of C$7.32 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 0.47 and a beta of 0.50. The company's 50-day moving average is C$31.39 and its 200-day moving average is C$28.34. The company has a quick ratio of 0.65, a current ratio of 0.64 and a debt-to-equity ratio of 9.54.

Insider Activity at PrairieSky Royalty

In other news, Director Margaret Anne Mckenzie purchased 8,400 shares of PrairieSky Royalty stock in a transaction dated Wednesday, February 11th. The shares were purchased at an average price of C$29.92 per share, with a total value of C$251,328.00. Following the transaction, the director owned 68,850 shares in the company, valued at C$2,059,992. This represents a 13.90% increase in their ownership of the stock. Insiders own 0.54% of the company's stock.

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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