PrairieSky Royalty (TSE:PSK) Shares Cross Below 200 Day Moving Average - Here's Why

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$26.57 and traded as low as C$22.76. PrairieSky Royalty shares last traded at C$23.08, with a volume of 390,962 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PSK shares. National Bankshares boosted their price objective on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a "sector perform" rating in a research note on Thursday, January 30th. TD Securities raised shares of PrairieSky Royalty from a "hold" rating to a "buy" rating and set a C$27.00 price target on the stock in a report on Wednesday, April 9th. CIBC decreased their price objective on PrairieSky Royalty from C$31.50 to C$28.00 in a report on Thursday, April 10th. Finally, Scotiabank raised PrairieSky Royalty to a "hold" rating in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$30.86.

PrairieSky Royalty Price Performance

The stock's 50 day simple moving average is C$24.01 and its 200-day simple moving average is C$26.53. The firm has a market cap of C$5.47 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63.

Insider Activity

In other news, Senior Officer Andrew Phillips bought 20,000 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were purchased at an average price of C$23.70 per share, for a total transaction of C$473,962.00. Also, Senior Officer Daniel James Bertram purchased 1,990 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of C$23.63 per share, for a total transaction of C$47,024.70. Insiders have purchased 24,990 shares of company stock valued at $591,699 over the last ninety days. 0.54% of the stock is currently owned by insiders.

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.