Strathcona Resources (TSE:SCR) Stock Rating Lowered by Atb Cap Markets

Atb Cap Markets downgraded shares of Strathcona Resources (TSE:SCR) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. ATB Capital upped their target price on Strathcona Resources from C$37.00 to C$38.00 in a report on Friday, November 15th. Royal Bank of Canada upped their price objective on Strathcona Resources from C$34.00 to C$36.00 in a research note on Friday, November 15th. TD Securities raised their target price on Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. Jefferies Financial Group upped their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. Finally, Scotiabank increased their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$36.38.

Strathcona Resources Trading Up 1.4 %

Shares of SCR opened at C$27.68 on Wednesday. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. Strathcona Resources has a 52-week low of C$21.35 and a 52-week high of C$37.69. The firm has a market cap of C$5.93 billion and a price-to-earnings ratio of 6.44. The business’s fifty day moving average is C$29.41 and its 200-day moving average is C$30.17.

Strathcona Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.61%. Strathcona Resources’s dividend payout ratio (DPR) is currently 23.26%.

Insiders Place Their Bets

In other news, 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, for a total transaction of C$44,887.04. Also, Director Navjeet Dhillon bought 3,000 shares of the company’s 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. 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.