Strathcona Resources (TSE:SCR) Given New C$38.00 Price Target at ATB Capital

Strathcona Resources (TSE:SCR) had its price target boosted by ATB Capital from C$37.00 to C$38.00 in a research report released on Friday,BayStreet.CA reports.

A number of other brokerages also recently commented on SCR. Royal Bank of Canada upped their price objective on shares of Strathcona Resources from C$34.00 to C$36.00 in a research report on Friday. Scotiabank increased their price target on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday. TD Securities lifted their price objective on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Finally, Jefferies Financial Group dropped their target price on 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Strathcona Resources presently has an average rating of “Moderate Buy” and an average price target of C$36.13.

Strathcona Resources Trading Up 0.6 %

TSE:SCR opened at C$32.39 on Friday. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. The stock’s 50 day simple moving average is C$28.01 and its 200-day simple moving average is C$30.61. Strathcona Resources has a 12-month low of C$20.16 and a 12-month high of C$37.69. The firm has a market cap of C$6.94 billion and a P/E ratio of 7.49.

Strathcona Resources Dividend Announcement

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

Insider Transactions at Strathcona Resources

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

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.