Strathcona Resources (TSE:SCR) Shares Cross Below 50 Day Moving Average – Here’s Why

Strathcona Resources Ltd. (TSE:SCR) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$42.97 and traded as low as C$41.71. Strathcona Resources shares last traded at C$42.07, with a volume of 403,080 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Jefferies Financial Group upgraded Strathcona Resources from a “hold” rating to a “buy” rating and increased their price objective for the company from C$45.00 to C$56.00 in a research report on Thursday, June 4th. Royal Bank Of Canada increased their price objective on Strathcona Resources from C$36.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. Roth Mkm set a C$40.00 price objective on Strathcona Resources and gave the company a “buy” rating in a research report on Tuesday, March 10th. TD Securities upgraded Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Finally, National Bank Financial increased their price objective on Strathcona Resources from C$41.00 to C$69.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$43.43.

Strathcona Resources Stock Performance

The company has a quick ratio of 11.09, a current ratio of 0.39 and a debt-to-equity ratio of 50.35. The stock has a market cap of C$9.01 billion, a price-to-earnings ratio of 12.12, a PEG ratio of -2.02 and a beta of 2.61. The stock’s fifty day moving average is C$42.97 and its 200-day moving average is C$36.72.

Strathcona Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 17th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, June 8th. Strathcona Resources’s dividend payout ratio (DPR) is presently 34.58%.

Strathcona Resources Company Profile

Strathcona is one of North America’s fastest growing pure play heavy oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life assets. The Company has three operations, including Cold Lake, Lloydminster Thermal and Lloydminster Conventional. Strathcona is a major producer in the Cold Lake region of Alberta. Our operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from best-in-class steam-assisted gravity drainage (SAGD) oil assets.