PrairieSky Royalty (TSE:PSK) Sets New 12-Month High – What’s Next?

Shares of PrairieSky Royalty Ltd. (TSE:PSK) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$29.15 and last traded at C$29.06, with a volume of 128023 shares traded. The stock had previously closed at C$28.93.

Wall Street Analysts Forecast Growth

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

PrairieSky Royalty Trading Up 0.8 %

The business’s fifty day moving average is C$27.75 and its 200-day moving average is C$27.09. The stock has a market capitalization of C$6.97 billion, a PE ratio of 30.32, a P/E/G 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.

PrairieSky Royalty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a $0.25 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.00 dividend on an annualized basis and a yield of 3.43%. PrairieSky Royalty’s payout ratio is 104.17%.

Insider Buying and Selling at PrairieSky Royalty

In other PrairieSky Royalty news, Senior Officer Daniel James Bertram purchased 7,670 shares of PrairieSky Royalty stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of C$28.20 per share, with a total value of C$216,290.93. 0.54% of the stock is currently owned by corporate 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.