Insider Buying: PrairieSky Royalty (TSE:PSK) Insider Buys C$239,175.00 in Stock

PrairieSky Royalty Ltd. (TSE:PSK) insider Ian Charles Dundas purchased 7,500 shares of the stock in a transaction that occurred on Friday, June 19th. The shares were purchased at an average price of C$31.89 per share, with a total value of C$239,175.00. Following the completion of the acquisition, the insider directly owned 27,500 shares in the company, valued at C$876,975. The trade was a 37.50% increase in their ownership of the stock.

PrairieSky Royalty Price Performance

PSK stock opened at C$31.99 on Thursday. The stock has a market capitalization of C$7.43 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 0.47 and a beta of 0.75. The firm’s 50-day moving average price is C$33.36 and its two-hundred day moving average price is C$30.86. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 9.36. PrairieSky Royalty Ltd. has a 12-month low of C$23.17 and a 12-month high of C$35.89.

PrairieSky Royalty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be issued a $0.265 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.06 annualized dividend and a yield of 3.3%. PrairieSky Royalty’s dividend payout ratio (DPR) is 121.51%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PSK shares. Roth Mkm raised PrairieSky Royalty to a “strong-buy” rating in a research note on Thursday, April 30th. Raymond James Financial lowered PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and raised their price target for the stock from C$35.00 to C$35.50 in a research note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$32.25.

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.