PrairieSky Royalty (OTCMKTS:PREKF) Stock Passes Below 50-Day Moving Average – Here’s Why

PrairieSky Royalty Ltd. (OTCMKTS:PREKF)’s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $19.86 and traded as low as $18.60. PrairieSky Royalty shares last traded at $18.69, with a volume of 40,085 shares.

Wall Street Analyst Weigh In

Separately, Raymond James initiated coverage on PrairieSky Royalty in a research report on Friday, October 18th. They issued a “market perform” rating and a $33.00 price objective on the stock.

PrairieSky Royalty Stock Down 1.7 %

The firm’s 50 day moving average price is $19.86 and its two-hundred day moving average price is $20.09.

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.