Strathcona Resources Ltd. (TSE:SCR) Receives C$35.50 Average Target Price from Analysts

Shares of Strathcona Resources Ltd. (TSE:SCR) have received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$35.50.

SCR has been the topic of a number of research reports. TD Securities lowered their target price on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Atb Cap Markets downgraded shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. CIBC lifted their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. Scotiabank upgraded shares of Strathcona Resources to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Jefferies Financial Group raised their price target on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th.

Strathcona Resources Stock Down 7.4 %

SCR stock opened at C$25.07 on Monday. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53. Strathcona Resources has a fifty-two week low of C$22.75 and a fifty-two week high of C$37.69. The stock’s 50 day simple moving average is C$27.42 and its 200 day simple moving average is C$28.60. The company has a market cap of C$5.36 billion and a P/E ratio of 14.46.

Strathcona Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a dividend of $0.26 per share. This is a positive change from Strathcona Resources’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, March 21st. Strathcona Resources’s dividend payout ratio (DPR) is presently 57.67%.

Insiders Place Their Bets

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

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.