PrairieSky Royalty (TSE:PSK) Stock Price Passes Above Fifty Day Moving Average – Should You Sell?

Shares of PrairieSky Royalty Ltd. (TSE:PSK) crossed 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 changing hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada boosted their target price on shares of PrairieSky Royalty from C$36.00 to C$38.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$34.42.

PrairieSky Royalty Price Performance

The company’s 50-day simple moving average is C$35.10 and its 200 day simple moving average is C$33.54. The company has a market cap of C$8.26 billion, a PE ratio of 34.18, a PEG ratio of 0.47 and a beta of 0.73. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.65 and a current ratio of 0.90.

PrairieSky Royalty Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio is currently 100.96%.

Insiders Place Their Bets

In other news, insider Pamela Pearl Kazeil bought 2,500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average price of C$33.42 per share, for a total transaction of C$83,550.00. Following the completion of the transaction, the insider owned 3,220 shares of the company’s stock, valued at approximately C$107,612.40. This trade represents a 347.22% increase in their ownership of the stock. Also, insider Ian Charles Dundas bought 7,500 shares of PrairieSky Royalty stock in a transaction dated Friday, June 19th. The stock was purchased at an average cost 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 approximately C$876,975. The trade was a 37.50% increase in their position. Over the last 90 days, insiders have bought 13,500 shares of company stock valued at $439,135. 0.54% of the stock is currently owned by 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.