PrairieSky Royalty (TSE:PSK) Share Price Crosses Below Two Hundred Day Moving Average - Should You Sell?

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$27.69 and traded as low as C$27.66. PrairieSky Royalty shares last traded at C$28.03, with a volume of 273,132 shares trading hands.

Analysts Set New Price Targets

PSK has been the topic of several analyst reports. BMO Capital Markets increased their price target on shares of PrairieSky Royalty from C$33.00 to C$34.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 29th. National Bankshares increased their target price on shares of PrairieSky Royalty from C$33.00 to C$37.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 23rd. Atb Cap Markets raised PrairieSky Royalty from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. TD Securities increased their price objective on PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a "hold" rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada raised PrairieSky Royalty from a "sector perform" rating to an "outperform" rating and raised their price objective 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 given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$30.80.

PrairieSky Royalty Price Performance

The firm has a market cap of C$6.75 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The stock's 50-day moving average is C$28.67 and its 200-day moving average is C$27.71. The company has a quick ratio of 0.65, a current ratio of 0.30 and a debt-to-equity ratio of 5.40.

Insider Transactions at PrairieSky Royalty

In other PrairieSky Royalty news, Senior Officer Andrew Phillips purchased 4,436 shares of the firm's stock in a transaction 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. Also, Senior Officer Daniel James Bertram acquired 7,670 shares of PrairieSky Royalty stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of C$28.20 per share, with a total value of C$216,290.93. 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.