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

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

PrairieSky Royalty Stock Performance

PrairieSky Royalty stock opened at C$33.08 on Thursday. PrairieSky Royalty Ltd. has a fifty-two week low of C$23.43 and a fifty-two week high of C$35.89. The firm’s 50 day simple moving average is C$33.41 and its 200-day simple moving average is C$32.22. The company has a debt-to-equity ratio of 6.88, a current ratio of 0.90 and a quick ratio of 0.65. The company has a market cap of C$7.69 billion, a P/E ratio of 31.81, a price-to-earnings-growth ratio of 0.47 and a beta of 0.73.

PrairieSky Royalty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 30th. PrairieSky Royalty’s payout ratio is presently 100.96%.

Analyst Ratings Changes

PSK has been the topic of a number of research reports. Roth Capital raised shares of PrairieSky Royalty to a “strong-buy” rating in a research note on Thursday, April 30th. Royal Bank Of Canada boosted 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. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$34.42.

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.