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

Key Points

• PrairieSky Royalty's stock has recently crossed above its 50-day moving average, trading at C$25.90 with a volume of 145,446 shares.
• The company declared a quarterly dividend of $0.26 per share, reflecting an annualized payout of $1.04 and a yield of 4.0%, with an ex-dividend date set for September 29th.
• Analysts have mixed ratings for the stock, with a consensus target price of C$29.33; Canaccord Genuity downgraded its target price to C$25.00, while Raymond James raised its target to C$29.00.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report)'s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$24.48 and traded as high as C$25.97. PrairieSky Royalty shares last traded at C$25.90, with a volume of 145,446 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group reduced their target price 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. Raymond James Financial boosted their target price on shares of 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 analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$29.33.

PrairieSky Royalty Trading Up 1.4%

The company's 50-day moving average is C$24.48 and its 200-day moving average is C$24.08. The firm has a market cap of C$6.10 billion, a price-to-earnings ratio of 27.85, a P/E/G 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.

PrairieSky Royalty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 15th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, September 29th. This represents a $1.04 annualized dividend and a yield of 4.0%. PrairieSky Royalty's dividend payout ratio 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.

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