Strathcona Resources (TSE:SCR) Stock Crosses Below 50 Day Moving Average – Here’s Why

Strathcona Resources Ltd. (TSE:SCR) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$29.12 and traded as low as C$26.87. Strathcona Resources shares last traded at C$27.04, with a volume of 19,846 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SCR shares. CIBC lifted their price objective on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, January 17th. ATB Capital lifted their price target on Strathcona Resources from C$37.00 to C$38.00 in a report on Friday, November 15th. Scotiabank lifted their target price on Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. TD Securities lifted their target price on Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. Finally, Atb Cap Markets cut Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$35.88.

Strathcona Resources Trading Up 0.7 %

The company has a market cap of C$5.78 billion and a PE ratio of 15.60. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06. The business has a 50 day simple moving average of C$29.07 and a two-hundred day simple moving average of C$29.31.

Strathcona Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.70%. Strathcona Resources’s payout ratio is 57.67%.

Insider Transactions at Strathcona Resources

In related news, Director Connie De Ciancio purchased 3,358 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was purchased at an average cost of C$28.77 per share, for a total transaction of C$96,609.66. Also, Senior Officer Dale George Babiak purchased 6,410 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was bought at an average price of C$31.50 per share, with a total value of C$201,915.00. Insiders bought a total of 11,648 shares of company stock worth $351,865 in the last ninety days. 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.