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

Strathcona Resources (TSE:SCR) had its price target increased by ATB Capital from C$37.00 to C$38.00 in a research report report published on Friday,BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the company. TD Securities boosted their price objective on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Royal Bank of Canada boosted their price target on shares of Strathcona Resources from C$34.00 to C$36.00 in a research note on Friday. Scotiabank raised their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday. Finally, 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 on the stock in a research note on Monday, September 16th. Two research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$36.13.

Strathcona Resources Stock Performance

Shares of SCR stock opened at C$32.39 on Friday. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. The firm has a market cap of C$6.94 billion and a P/E ratio of 7.49. The firm’s 50 day moving average price is C$28.01 and its 200-day moving average price is C$30.61. Strathcona Resources has a one year low of C$20.16 and a one year high of C$37.69.

Strathcona Resources Announces Dividend

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

Insider Activity

In related news, Senior Officer Scott Seipert acquired 5,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of C$30.50 per share, with a total value of C$152,500.00. Also, Director Navjeet Dhillon acquired 3,000 shares of Strathcona Resources stock in a transaction dated Friday, November 15th. The shares were bought at an average price of C$32.56 per share, with a total value of C$97,668.00. Company 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.