PrairieSky Royalty (TSE:PSK) Share 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 Friday . The stock has a two hundred day moving average of C$27.86 and traded as low as C$25.93. PrairieSky Royalty shares last traded at C$26.60, with a volume of 672,211 shares.

Analyst Ratings Changes

Separately, National Bankshares boosted their price objective on shares of 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. Six equities research 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. Based on data from MarketBeat, PrairieSky Royalty has an average rating of “Moderate Buy” and an average price target of C$30.67.

PrairieSky Royalty Trading Up 1.1 %

The stock has a market capitalization of C$6.34 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 0.47 and a beta of 1.78. The company’s 50 day moving average is C$27.59 and its 200 day moving average is C$27.87. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63.

Insider Activity at PrairieSky Royalty

In related news, Senior Officer Andrew Phillips bought 4,436 shares of the business’s stock in a transaction that occurred on 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.

PrairieSky Royalty Company Profile

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.