PrairieSky Royalty (TSE:PSK) Shares Cross Above Fifty Day Moving Average - Time to Sell?

Key Points

• PrairieSky Royalty shares rose above their 50-day moving average, reaching C$36.52 and closing at C$36.00, compared with a 50-day average of C$34.99.
• Royal Bank of Canada raised its price target to C$38 and maintained an “outperform” rating. Overall analyst sentiment is “Moderate Buy,” although the average price target of C$34.42 is below the current share price.
• The company declared a quarterly dividend of C$0.265 per share, equivalent to an annualized C$1.06 and a 2.9% yield. Insiders have also purchased 13,500 shares over the past 90 days.

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report)'s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$34.99 and traded as high as C$36.52. PrairieSky Royalty shares last traded at C$36.00, with a volume of 325,933 shares.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada raised their price target on shares of PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, PrairieSky Royalty has a consensus rating of "Moderate Buy" and an average price target of C$34.42.

PrairieSky Royalty Stock Up 0.7%

The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.65 and a current ratio of 0.90. The firm's 50-day moving average is C$34.99 and its two-hundred day moving average is C$33.49. The stock has a market cap of C$8.37 billion, a P/E ratio of 34.62, a PEG ratio of 0.47 and a beta of 0.73.

PrairieSky Royalty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were given a dividend of $0.265 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.9%. PrairieSky Royalty's payout ratio is presently 100.96%.

Insider Activity

In other news, insider Andrew Phillips purchased 3,500 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average price of C$33.26 per share, with a total value of C$116,410.00. Following the completion of the purchase, the insider directly owned 93,500 shares of the company's stock, valued at C$3,109,810. The trade was a 3.89% increase in their position. Also, insider Ian Charles Dundas purchased 7,500 shares of the firm's stock in a transaction that occurred on Friday, June 19th. The stock was purchased at an average price of C$31.89 per share, for a total transaction of C$239,175.00. Following the acquisition, the insider owned 27,500 shares of the company's stock, valued at C$876,975. The trade was a 37.50% increase in their ownership of the stock. Insiders have bought 13,500 shares of company stock valued at $439,135 over the last 90 days. 0.54% of the stock is owned by company 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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.

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