PrairieSky Royalty (TSE:PSK) Insider Buys C$83,550.00 in Stock

PrairieSky Royalty Ltd. (TSE:PSK) insider Pamela Pearl Kazeil acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average price of C$33.42 per share, for a total transaction of C$83,550.00. Following the transaction, the insider directly owned 3,220 shares of the company’s stock, valued at C$107,612.40. This represents a 347.22% increase in their position.

PrairieSky Royalty Price Performance

PrairieSky Royalty stock traded down C$0.85 during midday trading on Wednesday, hitting C$33.24. 97,700 shares of the company’s stock were exchanged, compared to its average volume of 530,672. PrairieSky Royalty Ltd. has a 52-week low of C$23.43 and a 52-week high of C$35.89. The stock has a 50-day moving average price of C$33.42 and a two-hundred day moving average price of C$32.18. 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 company has a market cap of C$7.73 billion, a P/E ratio of 31.96, a PEG ratio of 0.47 and a beta of 0.73.

PrairieSky Royalty Announces Dividend

The firm also recently declared 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. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio (DPR) is 100.96%.

Wall Street Analyst Weigh In

PSK has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price objective on PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Roth Capital raised shares of PrairieSky Royalty to a “strong-buy” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, PrairieSky Royalty has a consensus rating of “Moderate Buy” and an average target price of C$34.42.

About PrairieSky Royalty

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.