PrairieSky Royalty (TSE:PSK) Stock Crosses Below 200-Day Moving Average – What’s Next?

PrairieSky Royalty Ltd. (TSE:PSK)’s share price crossed 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 changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Royal Bank of Canada upgraded PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$31.00 to C$33.00 in a research report on Tuesday, September 17th. Raymond James raised shares of PrairieSky Royalty to a “hold” rating in a report on Thursday, October 17th. National Bankshares increased their price objective on PrairieSky Royalty from C$33.00 to C$37.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. TD Securities upped their target price on shares of PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Finally, Atb Cap Markets upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, PrairieSky Royalty presently has an average rating of “Moderate Buy” and an average price target of C$30.80.

PrairieSky Royalty Trading Up 0.5 %

The stock has a 50-day moving average of C$28.67 and a two-hundred day moving average of C$27.71. The company has a market cap of C$6.79 billion, a P/E ratio of 29.57, 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 quick ratio of 0.65 and a current ratio of 0.30.

Insider Activity at PrairieSky Royalty

In related news, Senior Officer Daniel James Bertram acquired 7,670 shares of PrairieSky Royalty stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of C$28.20 per share, for a total transaction of C$216,290.93. Also, Senior Officer Andrew Phillips acquired 4,436 shares of PrairieSky Royalty stock in a transaction that occurred on Tuesday, December 10th. The shares were bought 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 currently owned by insiders.

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.