PrairieSky Royalty (TSE:PSK) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

PrairieSky Royalty Ltd. (TSE:PSK)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PSK. BMO Capital Markets lifted their price target on shares of PrairieSky Royalty from C$33.00 to C$34.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. National Bankshares lifted their price target on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Finally, TD Securities lifted their price target on shares of 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. Six research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$30.67.

PrairieSky Royalty Stock Performance

The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. The firm’s 50 day simple moving average is C$27.76 and its 200-day simple moving average is C$27.90. The company has a market cap of C$6.63 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 0.47 and a beta of 1.78.

Insider Activity

In related news, Senior Officer Andrew Phillips acquired 4,436 shares of PrairieSky Royalty stock in a transaction that occurred on Tuesday, December 10th. The shares were 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.