Strathcona Resources (TSE:SCR) Reaches New 12-Month Low – Here’s Why

Strathcona Resources Ltd. (TSE:SCR)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as C$23.50 and last traded at C$23.56, with a volume of 22311 shares changing hands. The stock had previously closed at C$24.49.

Analyst Upgrades and Downgrades

SCR has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. TD Securities lifted their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday, November 15th. CIBC boosted their target price on Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. Atb Cap Markets cut Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, ATB Capital lifted their price objective on Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$35.88.

Strathcona Resources Stock Down 1.9 %

The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06. The firm has a market cap of C$5.14 billion and a P/E ratio of 13.86. The business has a fifty day moving average of C$28.61 and a 200 day moving average of C$29.05.

Strathcona Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.16%. Strathcona Resources’s dividend payout ratio is 57.67%.

Insider Buying and Selling

In related news, Director Connie De Ciancio bought 3,358 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were purchased at an average cost of C$28.77 per share, for a total transaction of C$96,609.66. Also, Senior Officer Pit Kim Chiu purchased 1,600 shares of Strathcona Resources stock in a transaction dated Friday, December 20th. The stock was bought at an average price of C$28.05 per share, with a total value of C$44,887.04. Insiders have bought 11,648 shares of company stock valued at $351,865 in the last 90 days. 91.34% of the stock is owned by 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.