PrairieSky Royalty (TSE:PSK) Shares Pass Below 200 Day Moving Average - Time to Sell?

Shares of PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Analysts Set New Price Targets

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

PrairieSky Royalty Stock Performance

The firm's fifty day moving average price is C$23.94 and its 200-day moving average price is C$26.49. 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 has a market cap of C$5.44 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 0.47 and a beta of 1.78.

Insider Buying and Selling at PrairieSky Royalty

In other news, Senior Officer Pamela Pearl Kazeil acquired 2,000 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The stock was acquired at an average cost of C$23.57 per share, with a total value of C$47,147.00. Also, Senior Officer Andrew Phillips bought 20,000 shares of the stock in a transaction dated 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. Insiders purchased 24,990 shares of company stock worth $591,699 over the last 90 days. Corporate insiders own 0.54% of the company's stock.

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.