Strathcona Resources (TSE:SCR) Price Target Raised to C$32.00 at Jefferies Financial Group

Strathcona Resources (TSE:SCR) had its price target upped by Jefferies Financial Group from C$30.00 to C$32.00 in a research report report published on Monday morning,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the stock. ATB Capital lifted their target price on shares of Strathcona Resources from C$37.00 to C$38.00 in a research note on Friday, November 15th. Royal Bank of Canada lifted their price objective on Strathcona Resources from C$34.00 to C$36.00 in a research report on Friday, November 15th. TD Securities boosted their target price on Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday, November 15th. Finally, Scotiabank raised their price target on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, November 15th. Two research 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 company’s stock. According to data from MarketBeat.com, Strathcona Resources presently has a consensus rating of “Moderate Buy” and an average target price of C$36.38.

Strathcona Resources Stock Performance

SCR stock opened at C$28.75 on Monday. The firm has a 50 day simple moving average of C$29.46 and a 200 day simple moving average of C$30.40. Strathcona Resources has a 52 week low of C$21.35 and a 52 week high of C$37.69. The stock has a market cap of C$6.16 billion and a P/E ratio of 6.69. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53.

Strathcona Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.48%. Strathcona Resources’s dividend payout ratio is currently 23.26%.

Insider Activity

In other news, Director Navjeet Dhillon acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of C$32.56 per share, with a total value of C$97,668.00. 91.34% of the stock is currently owned by 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.