Strathcona Resources (TSE:SCR) Price Target Raised to C$38.00

Strathcona Resources (TSE:SCR) had its target price hoisted by ATB Capital from C$37.00 to C$38.00 in a research note published on Friday morning,BayStreet.CA reports.

SCR has been the subject of a number of other reports. Scotiabank lifted their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday. Jefferies Financial Group decreased their price objective on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a report on Monday, September 16th. Royal Bank of Canada raised their target price on Strathcona Resources from C$34.00 to C$36.00 in a report on Friday. Finally, TD Securities lifted their target price on Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$36.13.

Strathcona Resources Stock Performance

TSE SCR opened at C$32.21 on Friday. The company has a market cap of C$6.90 billion and a P/E ratio of 7.49. The company has a fifty day simple moving average of C$28.01 and a 200 day simple moving average of C$30.61. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. Strathcona Resources has a 12-month low of C$20.16 and a 12-month high of C$37.69.

Strathcona Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a $0.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 3.10%. Strathcona Resources’s dividend payout ratio is currently 23.26%.

Insider Buying and Selling at Strathcona Resources

In related news, Senior Officer Scott Seipert bought 5,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of C$30.50 per share, for a total transaction of C$152,500.00. Also, Director Navjeet Dhillon bought 3,000 shares of Strathcona Resources stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of C$32.56 per share, with a total value 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.