PrairieSky Royalty (TSE:PSK) Shares Pass Above Fifty Day Moving Average of $26.30

PrairieSky Royalty Ltd. (TSE:PSK)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$26.30 and traded as high as C$26.34. PrairieSky Royalty shares last traded at C$26.29, with a volume of 226,566 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of PrairieSky Royalty from C$26.00 to C$27.00 in a research report on Tuesday, April 23rd. ATB Capital raised their price target on shares of PrairieSky Royalty from C$27.00 to C$28.50 in a research note on Tuesday, April 23rd. Stifel Nicolaus boosted their price objective on PrairieSky Royalty from C$27.00 to C$30.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Canaccord Genuity Group raised their target price on PrairieSky Royalty from C$24.75 to C$28.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Finally, CIBC cut PrairieSky Royalty from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from C$27.50 to C$31.00 in a research report on Monday, April 22nd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, PrairieSky Royalty presently has a consensus rating of “Hold” and an average target price of C$27.30.

PrairieSky Royalty Trading Up 1.1 %

The company has a current ratio of 0.32, a quick ratio of 0.65 and a debt-to-equity ratio of 6.39. The company has a fifty day moving average price of C$26.30 and a two-hundred day moving average price of C$25.06. The firm has a market capitalization of C$6.28 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 0.47 and a beta of 1.81.

PrairieSky Royalty (TSE:PSK) last issued its earnings results on Monday, April 22nd. The company reported C$0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.19 by C$0.01. PrairieSky Royalty had a return on equity of 7.91% and a net margin of 45.90%. The company had revenue of C$120.70 million during the quarter. As a group, research analysts forecast that PrairieSky Royalty Ltd. will post 0.9703787 earnings per share for the current fiscal year.

PrairieSky Royalty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, June 28th. PrairieSky Royalty’s dividend payout ratio (DPR) is presently 109.89%.

Insider Activity

In other news, Senior Officer Andrew Phillips purchased 7,000 shares of PrairieSky Royalty stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average price of C$25.75 per share, with a total value of C$180,250.00. Insiders bought a total of 11,300 shares of company stock valued at $294,989 in the last 90 days. Company insiders own 0.53% of the company’s stock.

About PrairieSky Royalty

PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.