Strathcona Resources (TSE:SCR) Stock Price Expected to Rise, Scotiabank Analyst Says

Strathcona Resources (TSE:SCR) had its price objective lifted by Scotiabank from C$35.00 to C$37.00 in a report issued on Friday,BayStreet.CA reports.

Several other equities research analysts also recently issued reports on the company. TD Securities increased their price objective on Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday. Royal Bank of Canada reduced their price target on shares of Strathcona Resources from C$37.00 to C$34.00 in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group lowered their price objective on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$36.13.

Strathcona Resources Price Performance

Shares of TSE:SCR opened at C$32.21 on Friday. The company’s fifty day moving average is C$28.01 and its two-hundred day moving average is C$30.61. The company has a market cap of C$6.90 billion and a P/E ratio of 7.49. Strathcona Resources has a 12-month low of C$20.16 and a 12-month high of C$37.69. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29.

Strathcona Resources Announces Dividend

The firm also recently declared 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. The ex-dividend date was Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.10%. Strathcona Resources’s dividend payout ratio is currently 23.26%.

Insider Activity at Strathcona Resources

In related news, Senior Officer Scott Seipert bought 5,000 shares of Strathcona Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of C$30.50 per share, for a total transaction of C$152,500.00. Also, Director Navjeet Dhillon purchased 3,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average price of C$32.56 per share, for a total transaction of C$97,668.00. 91.34% of the stock is owned by company insiders.

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.