PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 trading hands.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on PSK. National Bankshares raised their target price on PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a "sector perform" rating in a research report on Thursday, January 30th. CIBC dropped their price objective on shares of PrairieSky Royalty from C$31.50 to C$28.00 in a research note on Thursday, April 10th. TD Securities upgraded shares of PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 target price on the stock in a research report on Wednesday, April 9th. Finally, Scotiabank raised shares of PrairieSky Royalty to a "hold" rating in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$30.86.
Check Out Our Latest Stock Report on PrairieSky Royalty
PrairieSky Royalty Stock Up 0.7 %
The stock has a market capitalization of C$5.52 billion, a P/E ratio of 25.63, a P/E/G ratio of 0.47 and a beta of 1.78. The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The firm's fifty day moving average is C$24.55 and its 200-day moving average is C$26.87.
Insider Activity
In related news, Senior Officer Andrew Phillips purchased 20,000 shares of PrairieSky Royalty stock in a transaction that occurred on Wednesday, April 16th. The shares were acquired at an average price of C$23.70 per share, for a total transaction of C$473,962.00. Also, Senior Officer Pamela Pearl Kazeil acquired 2,000 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were bought at an average cost of C$23.57 per share, for a total transaction of C$47,147.00. Over the last 90 days, insiders bought 23,000 shares of company stock worth $544,674. Insiders own 0.54% of the company's stock.
About PrairieSky Royalty
(
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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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