PrairieSky Royalty (TSE:PSK) Stock Passes Above Fifty Day Moving Average – Time to Sell?

PrairieSky Royalty Ltd. (TSE:PSK)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$26.18 and traded as high as C$27.56. PrairieSky Royalty shares last traded at C$26.61, with a volume of 327,177 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PSK shares. National Bankshares upgraded PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$32.00 to C$33.00 in a report on Tuesday, October 21st. Scotiabank upped their price objective on shares of PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Natl Bk Canada upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Finally, Raymond James Financial raised PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and increased their target price for the stock from C$30.00 to C$35.00 in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$29.50.

PrairieSky Royalty Trading Down 2.7%

The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65. The stock has a market cap of C$6.19 billion, a price-to-earnings ratio of 28.61, a P/E/G ratio of 0.47 and a beta of 0.68. The business has a 50-day simple moving average of C$26.18 and a two-hundred day simple moving average of C$24.89.

PrairieSky Royalty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 15th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, September 29th. PrairieSky Royalty’s dividend payout ratio (DPR) is currently 110.75%.

About PrairieSky Royalty

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.