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

PrairieSky Royalty Ltd. (TSE:PSK)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$27.92 and traded as low as C$27.14. PrairieSky Royalty shares last traded at C$27.32, with a volume of 324,245 shares changing hands.

Analyst Ratings Changes

PSK has been the subject of several recent research reports. National Bankshares increased their price target on PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a report on Thursday, January 30th. Raymond James upgraded PrairieSky Royalty to a “hold” rating in a research report on Thursday, October 17th. BMO Capital Markets increased 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 report on Tuesday, October 29th. Finally, TD Securities increased their price objective on PrairieSky Royalty from C$25.00 to C$26.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.67.

PrairieSky Royalty Stock Performance

The firm has a 50-day moving average price of C$27.99 and a 200 day moving average price of C$27.92. The firm has a market capitalization of C$6.53 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a quick ratio of 0.65, a current ratio of 0.30 and a debt-to-equity ratio of 5.40.

Insider Transactions at PrairieSky Royalty

In related news, Senior Officer Andrew Phillips bought 4,436 shares of the firm’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. Company 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.