Strathcona Resources (TSE:SCR) Price Target Raised to C$36.00

Strathcona Resources (TSE:SCR) had its price target raised by Royal Bank of Canada from C$34.00 to C$36.00 in a report issued on Friday morning,BayStreet.CA reports.

Several other equities research analysts also recently issued reports on the stock. Scotiabank increased their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday. TD Securities increased their target price on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Finally, Jefferies Financial Group reduced their price objective on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$36.13.

Strathcona Resources Price Performance

Shares of SCR opened at C$32.21 on Friday. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. The firm has a market capitalization of C$6.90 billion and a PE ratio of 7.49. The stock has a 50 day simple moving average of C$28.01 and a 200 day simple moving average of C$30.61. Strathcona Resources has a 52-week low of C$20.16 and a 52-week high of C$37.69.

Strathcona Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 3.10%. Strathcona Resources’s payout ratio is presently 23.26%.

Insider Buying and Selling at Strathcona Resources

In other Strathcona Resources news, Senior Officer Scott Seipert purchased 5,000 shares of Strathcona Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of C$30.50 per share, for a total transaction of C$152,500.00. Also, Director Navjeet Dhillon purchased 3,000 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of C$32.56 per share, for a total transaction of C$97,668.00. Corporate insiders own 91.34% of the company’s stock.

Strathcona Resources Company Profile

Strathcona Resources Ltd. acquires, explores, develops, and produces petroleum and natural gas reserves in Canada. It operates through three segments: Cold Lake Thermal, Lloydminster Heavy Oil, and Montney. The Cold Lake Thermal segment includes three producing assets in the Cold Lake region of Northern Alberta; and Lindbergh, Orion, and Tucker.