PrairieSky Royalty (TSE:PSK) Insider Ian Charles Dundas Purchases 7,500 Shares

PrairieSky Royalty Ltd. (TSE:PSK) insider Ian Charles Dundas purchased 7,500 shares of PrairieSky Royalty stock in a transaction that occurred on Friday, June 19th. The stock was acquired at an average cost of C$31.89 per share, with a total value of C$239,175.00. Following the acquisition, the insider directly owned 27,500 shares in the company, valued at C$876,975. This trade represents a 37.50% increase in their position.

PrairieSky Royalty Trading Up 0.6%

Shares of PSK stock opened at C$32.11 on Tuesday. The company has a debt-to-equity ratio of 9.36, a current ratio of 0.83 and a quick ratio of 0.65. The stock has a 50 day simple moving average of C$33.36 and a 200-day simple moving average of C$30.80. The company has a market cap of C$7.46 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 0.47 and a beta of 0.75. PrairieSky Royalty Ltd. has a 1-year low of C$23.17 and a 1-year high of C$35.89.

PrairieSky Royalty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.3%. PrairieSky Royalty’s dividend payout ratio is presently 121.51%.

Analysts Set New Price Targets

A number of research firms have commented on PSK. Raymond James Financial downgraded shares of PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and increased their price objective for the company from C$35.00 to C$35.50 in a report on Monday, March 30th. Roth Mkm upgraded shares of PrairieSky Royalty to a “strong-buy” rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$32.25.

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.