Ian Charles Dundas Acquires 7,500 Shares of PrairieSky Royalty (TSE:PSK) Stock

PrairieSky Royalty Ltd. (TSE:PSK) insider Ian Charles Dundas purchased 7,500 shares of the business’s 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 completion of the acquisition, the insider directly owned 27,500 shares of the company’s stock, valued at C$876,975. The trade was a 37.50% increase in their ownership of the stock.

PrairieSky Royalty Price Performance

TSE PSK traded down C$0.08 on Monday, hitting C$31.85. 576,919 shares of the company were exchanged, compared to its average volume of 555,953. PrairieSky Royalty Ltd. has a 1-year low of C$23.17 and a 1-year high of C$35.89. The firm has a 50 day moving average of C$33.35 and a two-hundred day moving average of C$30.76. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 9.36. The company has a market cap of C$7.40 billion, a P/E ratio of 37.03, a P/E/G ratio of 0.47 and a beta of 0.75.

PrairieSky Royalty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 30th. PrairieSky Royalty’s dividend payout ratio (DPR) is 121.51%.

Wall Street Analysts Forecast Growth

PSK has been the topic of several recent research reports. Raymond James Financial lowered PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and raised their price target for the stock from C$35.00 to C$35.50 in a research report on Monday, March 30th. Roth Mkm upgraded PrairieSky Royalty to a “strong-buy” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, PrairieSky Royalty currently has an average rating of “Moderate Buy” and a consensus target price of C$32.25.

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.