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PrairieSky Royalty (TSE:PSK) Stock Passes Above Fifty Day Moving Average of $17.21

Defense World · Sep 2, 2022 04:01

PrairieSky Royalty Ltd. (TSE:PSK – Get Rating)'s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$17.21 and traded as high as C$17.84. PrairieSky Royalty shares last traded at C$17.69, with a volume of 333,138 shares.

Analyst Ratings Changes

Several research analysts recently issued reports on PSK shares. Canaccord Genuity Group set a C$21.75 price target on shares of PrairieSky Royalty and gave the stock a "buy" rating in a research report on Thursday, August 25th. Stifel Nicolaus increased their price target on shares of PrairieSky Royalty from C$23.75 to C$24.00 in a research report on Tuesday, July 19th. Scotiabank increased their price target on shares of PrairieSky Royalty from C$20.00 to C$21.00 in a research report on Wednesday, June 8th. CIBC upped their price objective on shares of PrairieSky Royalty from C$24.00 to C$26.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 19th. Finally, Royal Bank of Canada upped their price objective on shares of PrairieSky Royalty from C$23.00 to C$24.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 19th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, PrairieSky Royalty currently has a consensus rating of "Moderate Buy" and an average target price of C$21.98.

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PrairieSky Royalty Price Performance

The firm has a market capitalization of C$4.22 billion and a P/E ratio of 16.53. The company has a debt-to-equity ratio of 17.37, a current ratio of 1.16 and a quick ratio of 1.14. The company's 50 day moving average price is C$17.21 and its 200 day moving average price is C$17.60.

PrairieSky Royalty (TSE:PSK – Get Rating) last announced its quarterly earnings data on Monday, July 18th. The company reported C$0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.38 by C$0.08. The business had revenue of C$198.10 million during the quarter. As a group, sell-side analysts anticipate that PrairieSky Royalty Ltd. will post 1.24 EPS for the current fiscal year.

PrairieSky Royalty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.12 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $0.48 dividend on an annualized basis and a yield of 2.71%. PrairieSky Royalty's payout ratio is presently 39.25%.

Insider Buying and Selling at PrairieSky Royalty

In other PrairieSky Royalty news, Senior Officer Andrew Phillips acquired 7,000 shares of PrairieSky Royalty stock in a transaction on Wednesday, July 20th. The shares were purchased at an average cost of C$18.09 per share, with a total value of C$126,648.20. Following the completion of the purchase, the insider now owns 662,204 shares in the company, valued at C$11,980,992.09.

About PrairieSky Royalty

(Get Rating)

PrairieSky Royalty Ltd. holds crude oil and natural gas royalty interests in Alberta, Saskatchewan, British Columbia, and Manitoba of Canada. It holds an interest in approximately 9.8 million acres with petroleum and/or natural gas rights; 8.5 million acres of gross overriding royalty interests; approximately 0.3 million acres of the GRT interests; and other acreage.