Royal Bank of Canada Cuts Strathcona Resources (TSE:SCR) Price Target to C$35.00

Strathcona Resources (TSE:SCR) had its price objective cut by Royal Bank of Canada from C$36.00 to C$35.00 in a report issued on Tuesday morning,BayStreet.CA reports.

SCR has been the topic of several other reports. Jefferies Financial Group upped their price objective on Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. ATB Capital upped their price target on shares of Strathcona Resources from C$37.00 to C$38.00 in a research note on Friday, November 15th. Atb Cap Markets cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Scotiabank upped their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. Finally, TD Securities lifted their price target on Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$36.25.

Strathcona Resources Trading Down 3.0 %

Shares of SCR stock opened at C$29.35 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. The stock has a market capitalization of C$6.29 billion and a price-to-earnings ratio of 6.83. Strathcona Resources has a 12-month low of C$22.45 and a 12-month high of C$37.69. The stock’s 50-day moving average price is C$30.45 and its 200-day moving average price is C$29.93.

Strathcona Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, December 16th. Strathcona Resources’s payout ratio is 23.26%.

Insider Buying and Selling

In other news, Senior Officer Pit Kim Chiu purchased 1,600 shares of the stock in a transaction on Friday, December 20th. The stock was bought at an average price of C$28.05 per share, with a total value of C$44,887.04. Also, Director Navjeet Dhillon acquired 3,000 shares of Strathcona Resources stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of C$32.56 per share, with a total value of C$97,668.00. Insiders bought a total of 14,648 shares of company stock worth $449,533 in the last 90 days. 91.34% of the stock is owned by corporate insiders.

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.