Analysts Set Strathcona Resources Ltd. (TSE:SCR) Price Target at C$35.50

Shares of Strathcona Resources Ltd. (TSE:SCR) have been given an average rating of “Moderate Buy” by the six analysts that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$35.50.

Several research firms have recently weighed in on SCR. Scotiabank raised Strathcona Resources to a “strong-buy” rating in a research note on Wednesday, March 19th. TD Securities dropped their price target on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. CIBC boosted their price objective on Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. Jefferies Financial Group lifted their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. Finally, Royal Bank of Canada cut their price target on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating on the stock in a report on Thursday, March 6th.

Strathcona Resources Stock Down 2.8 %

SCR stock opened at C$28.11 on Monday. The firm has a market cap of C$6.01 billion and a PE ratio of 16.21. Strathcona Resources has a 12 month low of C$22.75 and a 12 month high of C$37.69. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09. The firm has a 50 day simple moving average of C$27.50 and a 200 day simple moving average of C$28.63.

Strathcona Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.70%. This is a positive change from Strathcona Resources’s previous quarterly dividend of $0.25. Strathcona Resources’s dividend payout ratio (DPR) is 57.67%.

Insider Transactions at Strathcona Resources

In other Strathcona Resources news, Senior Officer Allan Grabas acquired 8,802 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of C$27.47 per share, with a total value of C$241,790.94. Also, Senior Officer Dale George Babiak bought 6,410 shares of Strathcona Resources stock in a transaction on Monday, January 13th. The stock was acquired at an average price of C$31.50 per share, with a total value of C$201,915.00. 91.34% of the stock is currently owned by company 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.