Andrew Phillips Acquires 3,500 Shares of PrairieSky Royalty (TSE:PSK) Stock

PrairieSky Royalty Ltd. (TSE:PSK) insider Andrew Phillips bought 3,500 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were bought at an average price of C$33.26 per share, with a total value of C$116,410.00. Following the completion of the transaction, the insider owned 93,500 shares of the company’s stock, valued at C$3,109,810. The trade was a 3.89% increase in their ownership of the stock.

PrairieSky Royalty Price Performance

PSK stock opened at C$33.99 on Friday. 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 Ltd. has a one year low of C$23.43 and a one year high of C$35.89. The stock has a market cap of C$7.90 billion, a PE ratio of 32.68, a P/E/G ratio of 0.47 and a beta of 0.73. The firm has a 50 day simple moving average of C$33.41 and a two-hundred day simple moving average of C$32.26.

PrairieSky Royalty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, June 30th. PrairieSky Royalty’s payout ratio is currently 100.96%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PSK shares. Royal Bank Of Canada increased their target price on PrairieSky Royalty from C$36.00 to C$38.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Roth Capital raised PrairieSky Royalty to a “strong-buy” rating in a research note on Thursday, April 30th. One 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.