Strathcona Resources (TSE:SCR) Reaches New 1-Year High After Dividend Announcement

Strathcona Resources Ltd. (TSE:SCR)’s stock price hit a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as C$45.09 and last traded at C$44.85, with a volume of 23373 shares trading hands. The stock had previously closed at C$43.55.

The newly announced dividend which will be paid on Monday, December 15th. Investors of record on Monday, December 15th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Strathcona Resources’s dividend payout ratio (DPR) is 21.68%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Natl Bk Canada cut Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. Scotiabank raised their price objective on Strathcona Resources from C$34.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. National Bankshares decreased their target price on Strathcona Resources from C$38.00 to C$36.00 and set a “sector perform” rating for the company in a report on Wednesday, October 22nd. TD Securities raised their price target on shares of Strathcona Resources from C$35.00 to C$36.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Finally, Jefferies Financial Group lifted their price objective on shares of Strathcona Resources from C$34.00 to C$38.00 in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Strathcona Resources currently has a consensus rating of “Hold” and a consensus price target of C$36.86.

Strathcona Resources Stock Down 2.4%

The business has a 50 day moving average price of C$39.02 and a 200 day moving average price of C$35.67. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06. The stock has a market cap of C$8.98 billion, a PE ratio of 8.18, a P/E/G ratio of -2.02 and a beta of 2.61.

Strathcona Resources Company Profile

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.