PrairieSky Royalty (TSE:PSK) Sets New 12-Month High – What’s Next?

Shares of PrairieSky Royalty Ltd. (TSE:PSK) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$35.58 and last traded at C$35.55, with a volume of 40526 shares traded. The stock had previously closed at C$35.33.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank Of Canada increased their price target on PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Roth Capital raised PrairieSky Royalty to a “strong-buy” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$34.42.

PrairieSky Royalty Price Performance

The stock’s fifty day moving average price is C$33.53 and its 200-day moving average price is C$32.68. The firm has a market cap of C$8.31 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 0.47 and a beta of 0.73. The company has a debt-to-equity ratio of 6.88, a current ratio of 0.90 and a quick ratio of 0.65.

PrairieSky Royalty Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio (DPR) is 100.96%.

Insider Transactions at PrairieSky Royalty

In related news, insider Pamela Pearl Kazeil bought 2,500 shares of the stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average cost of C$33.42 per share, for a total transaction of C$83,550.00. Following the acquisition, the insider directly owned 3,220 shares in the company, valued at approximately C$107,612.40. This trade represents a 347.22% increase in their position. Also, insider Ian Charles Dundas purchased 7,500 shares of the company’s stock in a transaction dated Friday, June 19th. The stock was bought at an average price of C$31.89 per share, with a total value of C$239,175.00. Following the completion of the transaction, the insider directly owned 27,500 shares of the company’s stock, valued at approximately C$876,975. This represents a 37.50% increase in their ownership of the stock. Insiders have purchased a total of 13,500 shares of company stock worth $439,135 in the last ninety days. Insiders own 0.54% of the company’s stock.

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.