Strathcona Resources Ltd. (TSE:SCR) to Issue Dividend Increase – $0.26 Per Share

Strathcona Resources Ltd. (TSE:SCR) declared a quarterly dividend on Friday, March 21st, TickerTech Dividends reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.26 per share on Monday, March 31st. This represents a $1.04 annualized dividend and a yield of 3.74%. The ex-dividend date is Friday, March 21st. This is a 4.0% increase from Strathcona Resources’s previous quarterly dividend of $0.25.

Strathcona Resources Stock Performance

Shares of TSE:SCR opened at C$27.80 on Wednesday. Strathcona Resources has a twelve month low of C$22.75 and a twelve month high of C$37.69. The firm has a market cap of C$5.95 billion and a PE ratio of 16.03. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53. The business has a fifty day moving average of C$27.72 and a 200-day moving average of C$28.66.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SCR shares. Atb Cap Markets lowered Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. CIBC raised their price target on Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. TD Securities decreased their price target on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Royal Bank of Canada decreased their price target on Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating on the stock in a report on Thursday, March 6th. Finally, Jefferies Financial Group raised their price target on Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$35.50.

Insiders Place Their Bets

In other Strathcona Resources news, Senior Officer Dale George Babiak acquired 6,410 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were acquired at an average price of C$31.50 per share, for a total transaction of C$201,915.00. Also, Senior Officer Allan Grabas bought 8,802 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of C$27.47 per share, for a total transaction of C$241,790.94. Over the last quarter, insiders have purchased 20,450 shares of company stock worth $593,656. 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.