PrairieSky Royalty (TSE:PSK) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Shares of PrairieSky Royalty Ltd. (TSE:PSK) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$27.90 and traded as low as C$27.19. PrairieSky Royalty shares last traded at C$27.81, with a volume of 458,592 shares.

Wall Street Analyst Weigh In

PSK has been the topic of several research reports. National Bankshares lifted their target price on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. TD Securities lifted their target price on shares of PrairieSky Royalty from C$25.00 to C$26.00 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets lifted their price target on shares of PrairieSky Royalty from C$33.00 to C$34.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.67.

PrairieSky Royalty Trading Down 2.8 %

The stock has a market cap of C$6.45 billion, a P/E ratio of 29.94, a PEG ratio of 0.47 and a beta of 1.78. The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The stock’s fifty day moving average price is C$27.70 and its 200 day moving average price is C$27.90.

Insider Buying and Selling

In other PrairieSky Royalty news, Senior Officer Andrew Phillips bought 4,436 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was acquired at an average price of C$28.60 per share, with a total value of C$126,884.68. 0.54% of the stock is currently owned by company 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.