Insider Buying: PrairieSky Royalty (TSE:PSK) Insider Buys C$116,410.00 in Stock

PrairieSky Royalty Ltd. (TSE:PSK) insider Andrew Phillips acquired 3,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average price of C$33.26 per share, for a total transaction of C$116,410.00. Following the completion of the purchase, the insider directly owned 93,500 shares in the company, valued at C$3,109,810. This trade represents a 3.89% increase in their position.

PrairieSky Royalty Price Performance

TSE PSK opened at C$33.60 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 6.88. The company has a market cap of C$7.81 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 0.47 and a beta of 0.73. PrairieSky Royalty Ltd. has a 52 week low of C$23.43 and a 52 week high of C$35.89. The firm’s 50-day simple moving average is C$33.43 and its two-hundred day simple moving average is C$32.27.

PrairieSky Royalty Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio is presently 100.96%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PSK shares. Roth Capital upgraded shares of PrairieSky Royalty to a “strong-buy” rating in a research note on Thursday, April 30th. Royal Bank Of Canada increased their target price on PrairieSky Royalty from C$36.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$34.42.

About PrairieSky Royalty

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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.