PrairieSky Royalty (TSE:PSK) Stock Price Passes Above 50-Day Moving Average - What's Next?

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 passed 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 changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group lowered their price objective on 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. Raymond James Financial boosted their price objective on PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a "market perform" rating in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$29.86.

PrairieSky Royalty Stock Performance

The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48. The company has a market cap of C$5.80 billion, a P/E ratio of 26.49, a P/E/G ratio of 0.47 and a beta of 0.73. The business has a fifty day moving average of C$23.96 and a 200 day moving average of C$24.10.

PrairieSky Royalty Dividend Announcement

The company 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 $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.2%. PrairieSky Royalty's dividend payout ratio (DPR) is 109.68%.

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.