Insider Buying: PrairieSky Royalty (TSE:PSK) Insider Buys C$83,550.00 in Stock

PrairieSky Royalty Ltd. (TSE:PSK) insider Pamela Pearl Kazeil acquired 2,500 shares of PrairieSky Royalty stock in a transaction on Wednesday, August 5th. The shares were purchased at an average cost of C$33.42 per share, for a total transaction of C$83,550.00. Following the acquisition, the insider owned 3,220 shares in the company, valued at approximately C$107,612.40. This represents a 347.22% increase in their position.

PrairieSky Royalty Stock Down 1.1%

TSE PSK opened at C$33.60 on Friday. The stock has a fifty day moving average of C$33.43 and a 200-day moving average of C$32.27. The stock has a market capitalization of C$7.81 billion, a P/E 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 company has a debt-to-equity ratio of 6.88, a quick ratio of 0.65 and a current ratio of 0.90.

PrairieSky Royalty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were issued a $0.265 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.06 annualized dividend and a yield of 3.2%. PrairieSky Royalty’s dividend payout ratio (DPR) is currently 100.96%.

Analyst Ratings Changes

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

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