Strathcona Resources (TSE:SCR) Price Target Raised to C$37.00

Strathcona Resources (TSE:SCR) had its price objective hoisted by Scotiabank from C$35.00 to C$37.00 in a research report released on Friday morning,BayStreet.CA reports.

SCR has been the subject of a number of other reports. TD Securities increased their price objective on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Jefferies Financial Group decreased their price target on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a research note on Monday, September 16th. Finally, Royal Bank of Canada lowered their price target on Strathcona Resources from C$37.00 to C$34.00 in a report on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$36.13.

Strathcona Resources Price Performance

TSE SCR opened at C$32.21 on Friday. The company has a 50-day moving average price of C$28.01 and a two-hundred day moving average price of C$30.61. Strathcona Resources has a 52 week low of C$20.16 and a 52 week high of C$37.69. The stock has a market cap of C$6.90 billion and a price-to-earnings ratio of 7.49. 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 Announces Dividend

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

Insider Transactions at Strathcona Resources

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

About Strathcona Resources

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.