PrairieSky Royalty (TSE:PSK) Shares Cross Above 50-Day Moving Average - Should You Sell?

Key Points

• PrairieSky Royalty shares rose 2.1% and moved above their 50-day moving average of C$35.24, last trading at C$35.42.
• Analysts have a Moderate Buy consensus, with an average price target of C$38.29; several firms recently raised their targets.
• The company reported quarterly earnings of C$0.36 per share on C$165 million in revenue and pays an annualized dividend of C$1.06, a 3.0% yield. Insiders also bought 14,300 shares over the last quarter.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report)'s share price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$35.24 and traded as high as C$35.64. PrairieSky Royalty shares last traded at C$35.42, with a volume of 472,362 shares traded.

Analyst Ratings Changes

A number of research firms have commented on PSK. National Bank Financial lifted their price objective on shares of PrairieSky Royalty from C$42.00 to C$43.00 and gave the company an "outperform" rating in a research note on Tuesday, October 20th. Raymond James Financial increased their target price on shares of PrairieSky Royalty from C$39.00 to C$42.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 28th. Scotia increased their target price on shares of PrairieSky Royalty from C$36.00 to C$37.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 27th. Royal Bank Of Canada raised their price target on PrairieSky Royalty from C$39.00 to C$42.00 and gave the stock an "outperform" rating in a report on Wednesday, October 28th. Finally, BMO Capital Markets boosted their price target on PrairieSky Royalty from C$39.00 to C$40.00 and gave the company an "outperform" rating in a research report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$38.29.

PrairieSky Royalty Trading Up 2.1%

The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 3.55. The company has a fifty day moving average of C$35.24 and a two-hundred day moving average of C$33.39. The stock has a market capitalization of C$8.23 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 0.47 and a beta of 0.87.

PrairieSky Royalty (TSE:PSK - Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The company reported C$0.36 earnings per share for the quarter. The firm had revenue of C$165.00 million for the quarter. PrairieSky Royalty had a net margin of 47.60% and a return on equity of 10.96%.

PrairieSky Royalty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 15th were paid a $0.2650 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, September 29th. PrairieSky Royalty's dividend payout ratio (DPR) is 87.92%.

Insider Activity

In other news, insider Andrew Phillips bought 6,300 shares of the stock in a transaction dated Wednesday, November 4th. The shares were acquired at an average price of C$34.80 per share, with a total value of C$219,240.00. Following the completion of the acquisition, the insider directly owned 919,602 shares in the company, valued at approximately C$32,002,149.60. The trade was a 0.69% increase in their ownership of the stock. Also, Director Margaret Anne Mckenzie purchased 6,000 shares of the company's stock in a transaction dated Thursday, November 5th. The shares were purchased at an average price of C$34.99 per share, for a total transaction of C$209,940.00. Following the completion of the purchase, the director owned 79,400 shares of the company's stock, valued at approximately C$2,778,206. This trade represents a 8.17% increase in their ownership of the stock. Insiders have bought a total of 14,300 shares of company stock valued at $498,300 over the last quarter. Corporate insiders own 0.54% of the company's stock.

PrairieSky Royalty Company Profile

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.

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