Strathcona Resources (TSE:SCR) Hits New 52-Week Low – Here’s Why

Strathcona Resources Ltd. (TSE:SCR)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$22.75 and last traded at C$23.22, with a volume of 7424 shares changing hands. The stock had previously closed at C$23.39.

Analysts Set New Price Targets

SCR has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price target on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 6th. TD Securities reduced their target price 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. Jefferies Financial Group upped their price target on Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. Scotiabank raised Strathcona Resources to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, CIBC increased their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, January 17th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Strathcona Resources presently has an average rating of “Moderate Buy” and an average price target of C$35.50.

Strathcona Resources Stock Performance

The stock has a market cap of C$5.12 billion and a PE ratio of 13.80. The stock has a fifty day simple moving average of C$27.16 and a two-hundred day simple moving average of C$28.52. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53.

Strathcona Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a dividend of $0.26 per share. This is an increase from Strathcona Resources’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 21st. This represents a $1.04 annualized dividend and a yield of 4.35%. Strathcona Resources’s payout ratio is 57.67%.

Insider Buying and Selling at Strathcona Resources

In other Strathcona Resources news, Senior Officer Allan Grabas bought 8,802 shares of Strathcona Resources stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of C$27.47 per share, for a total transaction of C$241,790.94. Also, Senior Officer Dale George Babiak purchased 6,410 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were bought at an average cost of C$31.50 per share, with a total value of C$201,915.00. 91.34% of the stock is currently owned by corporate 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.