TD Securities Forecasts Strong Price Appreciation for Strathcona Resources (TSE:SCR) Stock

Strathcona Resources (TSE:SCR) had its target price upped by TD Securities from C$30.00 to C$31.00 in a research report released on Friday morning,BayStreet.CA reports.

Several other equities analysts have also recently weighed in on the company. Jefferies Financial Group dropped their price objective on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada dropped their price target on shares of Strathcona Resources from C$37.00 to C$34.00 in a research report on Tuesday, September 17th. Two research 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. According to MarketBeat, Strathcona Resources presently has a consensus rating of “Moderate Buy” and an average target price of C$36.13.

Strathcona Resources Trading Up 0.6 %

TSE:SCR opened at C$32.39 on Friday. The company has a debt-to-equity ratio of 50.29, a current ratio of 0.53 and a quick ratio of 11.09. Strathcona Resources has a one year low of C$20.16 and a one year high of C$37.69. The company has a market cap of C$6.94 billion and a PE ratio of 7.49. The firm has a 50-day moving average of C$28.01 and a 200-day moving average of C$30.61.

Strathcona Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.09%. The ex-dividend date was Monday, September 16th. Strathcona Resources’s dividend payout ratio is 23.26%.

Insider Buying and Selling at Strathcona Resources

In other news, Director Navjeet Dhillon bought 3,000 shares of the stock in a transaction on Friday, November 15th. The shares were purchased 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 the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of C$30.50 per share, with a total value of C$152,500.00. Corporate insiders own 91.34% of the company’s stock.

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.