PrairieSky Royalty (TSE:PSK) Hits New 52-Week High - Should You Buy?

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as C$29.86 and last traded at C$29.86, with a volume of 6201 shares traded. The stock had previously closed at C$29.62.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Raymond James upgraded shares of PrairieSky Royalty to a "hold" rating in a research report on Thursday, October 17th. Royal Bank of Canada upgraded PrairieSky Royalty from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from C$31.00 to C$33.00 in a report on Tuesday, September 17th. Atb Cap Markets raised PrairieSky Royalty from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. BMO Capital Markets upped 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 report on Tuesday, October 29th. Finally, TD Securities raised their price objective on PrairieSky Royalty from C$25.00 to C$26.00 and gave the stock a "hold" rating in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$30.80.

PrairieSky Royalty Stock Up 2.3 %

The firm has a market cap of C$7.24 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 0.47 and a beta of 1.78. The firm has a 50 day moving average of C$27.99 and a 200 day moving average of C$27.18. The company has a quick ratio of 0.65, a current ratio of 0.30 and a debt-to-equity ratio of 5.40.

PrairieSky Royalty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.30%. The ex-dividend date was Friday, September 27th. PrairieSky Royalty's dividend payout ratio is presently 104.17%.

Insider Activity at PrairieSky Royalty

In other PrairieSky Royalty news, Senior Officer Daniel James Bertram bought 7,670 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of C$28.20 per share, for a total transaction of C$216,290.93. 0.54% of the stock is currently owned by corporate insiders.

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.