PrairieSky Royalty (TSE:PSK) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

PrairieSky Royalty Ltd. (TSE:PSK) crossed 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 Analysts Forecast Growth

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

PrairieSky Royalty Stock Performance

The company has a market cap of C$6.34 billion, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48. The stock’s 50-day moving average price is C$27.59 and its 200 day moving average price is C$27.86.

Insider Transactions at PrairieSky Royalty

In related news, Senior Officer Andrew Phillips acquired 4,436 shares of the stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average price of C$28.60 per share, for a total transaction of C$126,884.68. 0.54% of the stock is currently owned by corporate insiders.

PrairieSky Royalty Company Profile

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.