Strathcona Resources (TSE:SCR) Price Target Raised to C$31.00 at TD Securities

Strathcona Resources (TSE:SCR) had its price target upped by TD Securities from C$30.00 to C$31.00 in a research note published on Friday,BayStreet.CA reports.

Several other brokerages also recently weighed in on SCR. Jefferies Financial Group decreased their price target on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a report on Monday, September 16th. Royal Bank of Canada reduced their target price on shares of Strathcona Resources from C$37.00 to C$34.00 in a research note on Tuesday, September 17th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Strathcona Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of C$36.13.

Strathcona Resources Stock Performance

Shares of TSE SCR traded down C$0.29 during midday trading on Friday, reaching C$32.21. 51,340 shares of the company were exchanged, compared to its average volume of 40,266. The stock has a market cap of C$6.90 billion and a P/E ratio of 7.49. Strathcona Resources has a 1 year low of C$20.16 and a 1 year high of C$37.69. The stock has a fifty day simple moving average of C$28.01 and a 200 day simple moving average of C$30.61. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29.

Strathcona Resources (TSE:SCR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C$1.43 earnings per share for the quarter. The company had revenue of C$992.90 million during the quarter, compared to analysts’ expectations of C$978.00 million. Strathcona Resources had a return on equity of 12.32% and a net margin of 11.62%. On average, research analysts forecast that Strathcona Resources will post 2.8494405 earnings per share for the current fiscal year.

Strathcona Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, September 16th. Strathcona Resources’s payout ratio is currently 23.26%.

Insider Buying and Selling

In related news, Director Navjeet Dhillon purchased 3,000 shares of Strathcona Resources stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of C$32.56 per share, with a total value of C$97,668.00. Also, Senior Officer Scott Seipert acquired 5,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of C$30.50 per share, for a total transaction of C$152,500.00. In the last quarter, insiders acquired 11,455 shares of company stock valued at $359,864. 91.34% of the stock is currently owned by corporate 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.