Strathcona Resources (TSE:SCR) Price Target Raised to C$38.00

Strathcona Resources (TSE:SCR) had its target price upped by ATB Capital from C$37.00 to C$38.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

Several other equities research analysts also recently issued reports on SCR. Royal Bank of Canada increased their target price on Strathcona Resources from C$34.00 to C$36.00 in a research report on Friday. Jefferies Financial Group decreased 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. Scotiabank raised their target price on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday. Finally, TD Securities upped their price target on Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$36.13.

Strathcona Resources Stock Performance

Shares of SCR stock opened at C$32.21 on Friday. The firm’s 50 day moving average is C$28.01 and its 200 day moving average is C$30.61. The stock has a market capitalization of C$6.90 billion and a P/E ratio of 7.49. Strathcona Resources has a 12 month low of C$20.16 and a 12 month high of C$37.69. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29.

Strathcona Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.10%. The ex-dividend date was Monday, September 16th. Strathcona Resources’s payout ratio is 23.26%.

Insiders Place Their Bets

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