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

Shares of Strathcona Resources Ltd. (TSE:SCR) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$35.50.

SCR has been the subject of a number of research reports. Royal Bank of Canada cut their target price on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating for the company in a research report on Thursday, March 6th. Jefferies Financial Group raised their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. CIBC boosted their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. TD Securities cut their price target on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Finally, Atb Cap Markets cut Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

Strathcona Resources Trading Down 7.4 %

Shares of SCR opened at C$25.07 on Monday. Strathcona Resources has a fifty-two week low of C$22.75 and a fifty-two week high of C$37.69. The business has a 50-day moving average of C$27.42 and a 200 day moving average of C$28.60. The firm has a market cap of C$5.36 billion and a P/E ratio of 14.46. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.26 dividend. The ex-dividend date was Friday, March 21st. This represents a $1.04 annualized dividend and a dividend yield of 4.15%. This is a boost from Strathcona Resources’s previous quarterly dividend of $0.25. Strathcona Resources’s dividend payout ratio is presently 57.67%.

Insider Buying and Selling

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