Strathcona Resources (TSE:SCR) Price Target Raised to C$36.00

Strathcona Resources (TSE:SCR) had its target price hoisted by Royal Bank of Canada from C$34.00 to C$36.00 in a research note released on Friday morning,BayStreet.CA reports.

Other analysts also recently issued reports about the company. Jefferies Financial Group reduced their price target on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a research note on Monday, September 16th. TD Securities lifted their target price on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Finally, Scotiabank upped their price target on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$36.13.

Strathcona Resources Trading Down 0.9 %

Shares of TSE:SCR opened at C$32.21 on Friday. Strathcona Resources has a 12-month low of C$20.16 and a 12-month high of C$37.69. The business has a 50 day moving average of C$28.01 and a 200-day moving average of C$30.61. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29. The stock has a market cap of C$6.90 billion and a PE ratio of 7.49.

Strathcona Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were given 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 payout ratio is 23.26%.

Insider Transactions at Strathcona Resources

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

Strathcona Resources Company Profile

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.