Strathcona Resources Ltd. (TSE:SCR) Receives C$36.38 Consensus Target Price from Brokerages

Shares of Strathcona Resources Ltd. (TSE:SCR) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$36.38.

A number of research firms recently commented on SCR. Atb Cap Markets cut Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. ATB Capital lifted their price target on shares of Strathcona Resources from C$37.00 to C$38.00 in a report on Friday, November 15th. Scotiabank boosted their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. Royal Bank of Canada raised their target price on shares of Strathcona Resources from C$34.00 to C$36.00 in a research report on Friday, November 15th. Finally, Jefferies Financial Group boosted their price target on Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th.

Strathcona Resources Stock Performance

Strathcona Resources stock opened at C$29.89 on Friday. Strathcona Resources has a fifty-two week low of C$21.35 and a fifty-two week high of C$37.69. The company has a market capitalization of C$6.40 billion and a price-to-earnings ratio of 6.95. The stock has a fifty day moving average of C$29.59 and a two-hundred day moving average of C$30.06. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. 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 3.35%. Strathcona Resources’s payout ratio is 23.26%.

Insider Buying and Selling

In other Strathcona Resources news, Director Navjeet Dhillon bought 3,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of C$32.56 per share, with a total value of C$97,668.00. Also, Senior Officer Pit Kim Chiu purchased 1,600 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average cost of C$28.05 per share, with a total value of C$44,887.04. In the last ninety days, insiders have bought 7,958 shares of company stock valued at $239,165. 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.