PrairieSky Royalty (TSE:PSK) Stock Crosses Above 50-Day Moving Average - Here's Why

Key Points

• PrairieSky Royalty Ltd.'s share price has recently crossed above its 50-day moving average, indicating potential upward momentum, with the last trading price at C$24.29.
• Analysts have set varying price targets for the stock, with a consensus target price of C$29.86 and a majority rating of "Moderate Buy."
• The company has announced a quarterly dividend of $0.26 per share, representing an annual yield of 4.3%, to be paid on October 15th.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report)'s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$23.91 and traded as high as C$24.38. PrairieSky Royalty shares last traded at C$24.29, with a volume of 417,306 shares.

Analysts Set New Price Targets

Several research firms recently issued reports on PSK. Raymond James Financial lifted their price target on shares of PrairieSky Royalty from C$28.00 to C$29.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 15th. Canaccord Genuity Group dropped their price target on shares of PrairieSky Royalty from C$26.00 to C$25.00 and set a "hold" rating on the stock in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$29.86.

PrairieSky Royalty Stock Performance

The company has a market capitalization of C$5.72 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 0.47 and a beta of 0.73. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. The company's fifty day simple moving average is C$23.91 and its two-hundred day simple moving average is C$24.15.

PrairieSky Royalty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.3%. 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.

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