PrairieSky Royalty (TSE:PSK) Sets New 52-Week High – What’s Next?

PrairieSky Royalty Ltd. (TSE:PSK) hit a new 52-week high during trading on Thursday . The stock traded as high as C$29.86 and last traded at C$29.86, with a volume of 6201 shares. The stock had previously closed at C$29.62.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PSK shares. Atb Cap Markets upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. TD Securities boosted their price target on PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a “hold” rating in a research note on Tuesday, October 29th. BMO Capital Markets upped their target price on PrairieSky Royalty from C$33.00 to C$34.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. National Bankshares upped their target price 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. Finally, Raymond James raised PrairieSky Royalty to a “hold” rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, PrairieSky Royalty presently has an average rating of “Moderate Buy” and an average target price of C$30.80.

PrairieSky Royalty Trading Up 1.5 %

The firm has a fifty day simple moving average of C$27.99 and a 200-day simple moving average of C$27.18. The firm has a market cap of C$7.18 billion, a P/E ratio of 30.85, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a debt-to-equity ratio of 5.40, a current ratio of 0.30 and a quick ratio of 0.65.

PrairieSky Royalty Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.00 annualized dividend and a yield of 3.33%. PrairieSky Royalty’s payout ratio is currently 104.17%.

Insiders Place Their Bets

In related news, Senior Officer Daniel James Bertram acquired 7,670 shares of the stock in a transaction dated 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. Corporate 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.