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

PrairieSky Royalty Ltd. (TSE:PSK)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$27.90 and traded as low as C$27.19. PrairieSky Royalty shares last traded at C$27.81, with a volume of 458,592 shares.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Securities upped their price target on PrairieSky Royalty from C$25.00 to C$26.00 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. National Bankshares upped their price target on PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. Finally, BMO Capital Markets upped their price target 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 investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PrairieSky Royalty presently has a consensus rating of “Moderate Buy” and an average price target of C$30.67.

PrairieSky Royalty Stock Down 2.8 %

The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The stock has a market capitalization of C$6.45 billion, a P/E ratio of 29.94, a P/E/G ratio of 0.47 and a beta of 1.78. The business has a 50-day moving average price of C$27.70 and a 200 day moving average price of C$27.90.

Insider Activity

In other news, Senior Officer Andrew Phillips bought 4,436 shares of the stock in a transaction dated Tuesday, December 10th. The stock was purchased at an average cost of C$28.60 per share, for a total transaction of C$126,884.68. Corporate insiders own 0.54% of the company’s stock.

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.