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 trading hands.

Wall Street Analyst Weigh In

PSK has been the topic of a number of analyst reports. BMO Capital Markets raised their price target on 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 raised their price target on 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. Raymond James upgraded PrairieSky Royalty to a “hold” rating in a research note on Thursday, October 17th. Finally, TD Securities raised their price target on 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 given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$30.67.

PrairieSky Royalty Price Performance

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

Insider Transactions at PrairieSky Royalty

In related news, Senior Officer Andrew Phillips purchased 4,436 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average price of C$28.60 per share, for a total transaction 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.