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

PrairieSky Royalty Ltd. (TSE:PSK) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$27.69 and traded as low as C$27.66. PrairieSky Royalty shares last traded at C$28.03, with a volume of 273,132 shares.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. TD Securities upped their target price on PrairieSky Royalty from C$25.00 to C$26.00 and gave the stock a “hold” rating in a report on Tuesday, October 29th. National Bankshares upped their price target on PrairieSky Royalty from C$33.00 to C$37.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Atb Cap Markets upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Raymond James upgraded PrairieSky Royalty to a “hold” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada raised shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$31.00 to C$33.00 in a research report on Tuesday, September 17th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.80.

PrairieSky Royalty Price Performance

The company has a current ratio of 0.30, a quick ratio of 0.65 and a debt-to-equity ratio of 5.40. The business has a 50-day moving average of C$28.66 and a 200 day moving average of C$27.69. The firm has a market capitalization of C$6.70 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78.

Insider Transactions at PrairieSky Royalty

In related news, Senior Officer Daniel James Bertram purchased 7,670 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of C$28.20 per share, with a total value of C$216,290.93. Also, Senior Officer Andrew Phillips purchased 4,436 shares of PrairieSky Royalty stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of C$28.60 per share, with a total value of C$126,884.68. Company insiders own 0.54% 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.