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

Strathcona Resources (TSE:SCR) had its price target increased by CIBC from C$35.00 to C$37.00 in a report published on Friday,BayStreet.CA reports.

Several other research firms also recently issued reports on SCR. Jefferies Financial Group raised their price target on shares of Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. ATB Capital raised their target price on Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. Royal Bank of Canada reduced their price target on Strathcona Resources from C$36.00 to C$35.00 in a research report on Tuesday. Scotiabank raised their price objective on Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. Finally, TD Securities lifted their price objective on Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday, November 15th. Three investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$35.88.

Strathcona Resources Price Performance

Strathcona Resources stock opened at C$29.40 on Friday. The company has a market capitalization of C$6.30 billion and a PE ratio of 6.84. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. The stock has a 50-day moving average price of C$30.47 and a two-hundred day moving average price of C$29.89. Strathcona Resources has a 12 month low of C$22.45 and a 12 month high of C$37.69.

Strathcona Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Monday, December 16th. Strathcona Resources’s payout ratio is 23.26%.

Insider Transactions at Strathcona Resources

In other news, Senior Officer Pit Kim Chiu acquired 1,600 shares of Strathcona Resources stock in a transaction on Friday, December 20th. The stock was purchased at an average price of C$28.05 per share, with a total value of C$44,887.04. Also, Director Navjeet Dhillon bought 3,000 shares of the stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of C$32.56 per share, for a total transaction of C$97,668.00. Insiders purchased a total of 14,648 shares of company stock valued at $449,533 in the last quarter. 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.