PrairieSky Royalty (TSE:PSK) Stock Passes Above 50 Day Moving Average – Time to Sell?

Shares of PrairieSky Royalty Ltd. (TSE:PSK) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$33.40 and traded as high as C$35.08. PrairieSky Royalty shares last traded at C$34.67, with a volume of 552,807 shares traded.

Wall Street Analyst Weigh In

PSK has been the topic of several research analyst reports. Royal Bank Of Canada raised their price objective on shares of PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Roth Capital upgraded 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 issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$34.42.

PrairieSky Royalty Trading Down 0.5%

The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 6.88. The firm has a market capitalization of C$8.06 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 0.47 and a beta of 0.75. The business has a 50-day moving average of C$33.40 and a two-hundred day moving average of C$32.03.

PrairieSky Royalty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a $0.265 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.1%. PrairieSky Royalty’s dividend payout ratio (DPR) is currently 100.96%.

Insider Activity

In other news, insider Ian Charles Dundas acquired 7,500 shares of the stock in a transaction dated Friday, June 19th. The shares were acquired at an average cost of C$31.89 per share, for a total transaction of C$239,175.00. Following the completion of the transaction, the insider owned 27,500 shares in the company, valued at approximately C$876,975. This trade represents a 37.50% increase in their position. Corporate insiders own 0.54% of the company’s stock.

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.