PrairieSky Royalty (TSE:PSK) Reaches New 52-Week High – Time to Buy?

PrairieSky Royalty Ltd. (TSE:PSK) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$28.94 and last traded at C$28.36, with a volume of 5168 shares changing hands. The stock had previously closed at C$28.71.

Analyst Ratings Changes

Several equities analysts have commented on PSK shares. BMO Capital Markets upped their price objective on shares of PrairieSky Royalty from C$33.00 to C$34.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. TD Securities lifted 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. ATB Capital raised their price objective on shares of PrairieSky Royalty from C$28.50 to C$30.00 in a report on Friday, July 19th. Raymond James raised shares of PrairieSky Royalty to a “hold” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada raised shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$31.00 to C$33.00 in a research note on Tuesday, September 17th. Six investment 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, the stock presently has an average rating of “Moderate Buy” and an average price target of C$30.80.

PrairieSky Royalty Price Performance

The company has a current ratio of 0.30, a quick ratio of 0.65 and a debt-to-equity ratio of 5.40. The business has a 50-day moving average of C$27.66 and a 200 day moving average of C$27.07. The firm has a market capitalization of C$6.81 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78.

PrairieSky Royalty Announces Dividend

The company 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Friday, September 27th. PrairieSky Royalty’s dividend payout ratio is currently 104.17%.

Insiders Place Their Bets

In related news, Senior Officer Daniel James Bertram purchased 7,670 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of C$28.20 per share, for a total transaction of C$216,290.93. Corporate insiders own 0.54% of the company’s stock.

PrairieSky Royalty Company Profile

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.