Strathcona Resources (TSE:SCR) Price Target Raised to C$37.00

Strathcona Resources (TSE:SCR) had its price objective hoisted by Scotiabank from C$35.00 to C$37.00 in a research report sent to investors on Friday,BayStreet.CA reports.

Several other research analysts also recently commented on the company. Jefferies Financial Group reduced their target price on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a report on Monday, September 16th. TD Securities increased their price target on shares of Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday. Finally, Royal Bank of Canada dropped their target price 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 given a buy rating and one has given a strong buy rating to the stock. 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 Price Performance

TSE:SCR opened at C$32.39 on Friday. 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 firm has a market cap of C$6.94 billion and a PE 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’s 50-day moving average price is C$28.01 and its two-hundred day moving average price is C$30.61.

Strathcona Resources Announces Dividend

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

Insider Buying and Selling at Strathcona Resources

In other news, Senior Officer Scott Seipert bought 5,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of C$30.50 per share, for a total transaction of C$152,500.00. Also, Director Navjeet Dhillon bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of C$32.56 per share, for a total transaction of C$97,668.00. 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.