PrairieSky Royalty (TSE:PSK) Share Price Passes Below 200-Day Moving Average – What’s Next?

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 trading hands.

Analyst Ratings Changes

A number of research firms have recently commented on PSK. Raymond James upgraded PrairieSky Royalty to a “hold” rating in a research note on Thursday, October 17th. Atb Cap Markets upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. National Bankshares upped their target price on shares of PrairieSky Royalty from C$33.00 to C$37.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada upgraded PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$31.00 to C$33.00 in a research report on Tuesday, September 17th. Finally, BMO Capital Markets raised their price objective on PrairieSky Royalty from C$33.00 to C$34.00 and gave the stock a “strong-buy” rating in a research note 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 has a consensus rating of “Moderate Buy” and an average 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 stock has a market cap of C$6.79 billion, a PE ratio of 29.57, a P/E/G ratio of 0.47 and a beta of 1.78. The company has a fifty day moving average of C$28.67 and a 200-day moving average of C$27.71.

Insiders Place Their Bets

In other news, Senior Officer Daniel James Bertram acquired 7,670 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of C$28.20 per share, with a total value of C$216,290.93. Also, Senior Officer Andrew Phillips bought 4,436 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average price of C$28.60 per share, for a total transaction of C$126,884.68. 0.54% of the stock is owned by corporate insiders.

PrairieSky Royalty Company Profile

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.