TD Securities Increases Strathcona Resources (TSE:SCR) Price Target to C$31.00

Strathcona Resources (TSE:SCR) had its price target hoisted by TD Securities from C$30.00 to C$31.00 in a research note issued to investors on Friday,BayStreet.CA reports.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group cut their target price on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a research report on Monday, September 16th. Royal Bank of Canada cut their price objective on Strathcona Resources from C$37.00 to C$34.00 in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$36.13.

Strathcona Resources Trading Down 0.9 %

TSE:SCR opened at C$32.21 on Friday. Strathcona Resources has a 52-week low of C$20.16 and a 52-week high of C$37.69. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29. The stock has a fifty day simple moving average of C$28.01 and a 200-day simple moving average of C$30.61. The company has a market capitalization of C$6.90 billion and a PE ratio of 7.49.

Strathcona Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.10%. Strathcona Resources’s dividend payout ratio (DPR) is presently 23.26%.

Insider Activity at Strathcona Resources

In related news, Director Navjeet Dhillon purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased 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 business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of C$30.50 per share, for a total transaction of C$152,500.00. 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.