Brokerages Set Strathcona Resources Ltd. (TSE:SCR) Price Target at C$35.88

Shares of Strathcona Resources Ltd. (TSE:SCR) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$35.50.

SCR has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. Atb Cap Markets cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Royal Bank of Canada cut their price objective on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 6th. TD Securities cut their price objective on shares of 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. Finally, Scotiabank increased their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th.

Insider Buying and Selling at Strathcona Resources

In other news, Senior Officer Allan Grabas acquired 8,802 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was purchased at an average price of C$27.47 per share, for a total transaction of C$241,790.94. Also, Senior Officer Pit Kim Chiu acquired 1,600 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was purchased at an average price of C$28.05 per share, with a total value of C$44,887.04. In the last 90 days, insiders bought 20,450 shares of company stock worth $593,656. Insiders own 91.34% of the company’s stock.

Strathcona Resources Stock Performance

Shares of SCR opened at C$27.51 on Thursday. The stock has a market capitalization of C$5.88 billion and a P/E ratio of 15.87. The firm’s fifty day simple moving average is C$28.03 and its two-hundred day simple moving average is C$28.78. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06. Strathcona Resources has a 12 month low of C$22.75 and a 12 month high of C$37.69.

Strathcona Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 3.64%. Strathcona Resources’s dividend payout ratio (DPR) is 57.67%.

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.