Strathcona Resources Ltd. (TSE:SCR) Receives C$35.29 Average Price Target from Analysts

Strathcona Resources Ltd. (TSE:SCR) has received an average rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$34.86.

SCR has been the topic of a number of recent 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 Capital lifted their target price on Strathcona Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 17th. Royal Bank Of Canada lifted their target price on Strathcona Resources from C$34.00 to C$36.00 in a research report on Thursday, May 22nd. CIBC lowered their target price on Strathcona Resources from C$37.00 to C$33.00 in a research report on Thursday, April 10th. Finally, Scotiabank raised Strathcona Resources to a “strong-buy” rating in a research report on Wednesday, March 19th.

Strathcona Resources Stock Performance

SCR opened at C$31.14 on Tuesday. The business’s 50-day moving average price is C$28.04 and its two-hundred day moving average price is C$28.11. Strathcona Resources has a 1 year low of C$22.75 and a 1 year high of C$33.93. The company has a market capitalization of C$6.66 billion and a price-to-earnings ratio of 17.96. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09.

Strathcona Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Monday, June 23rd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from Strathcona Resources’s previous quarterly dividend of $0.26. Strathcona Resources’s payout ratio is 57.67%.

Insiders Place Their Bets

In other news, Senior Officer Pit Kim Chiu acquired 1,665 shares of Strathcona Resources stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of C$30.00 per share, for a total transaction of C$49,950.00. Company insiders own 91.34% of the company’s stock.

About Strathcona Resources

Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan.