PrairieSky Royalty (TSE:PSK) Share Price Passes Below 200 Day Moving Average – Here’s Why

Shares of PrairieSky Royalty Ltd. (TSE:PSK) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$27.86 and traded as low as C$25.93. PrairieSky Royalty shares last traded at C$26.60, with a volume of 672,211 shares traded.

Wall Street Analyst Weigh In

Separately, National Bankshares boosted their price target on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Six 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. Based on data from MarketBeat, PrairieSky Royalty currently has a consensus rating of “Moderate Buy” and an average target price of C$30.67.

PrairieSky Royalty Price Performance

The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The business’s fifty day moving average is C$27.59 and its 200 day moving average is C$27.87. The firm has a market capitalization of C$6.34 billion, a P/E ratio of 29.46, a P/E/G ratio of 0.47 and a beta of 1.78.

Insider Buying and Selling

In other news, Senior Officer Andrew Phillips bought 4,436 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average cost of C$28.60 per share, with a total value of C$126,884.68. Insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

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.