Scotiabank Issues Positive Forecast for Strathcona Resources (TSE:SCR) Stock Price

Strathcona Resources (TSE:SCR) had its target price upped by Scotiabank from C$35.00 to C$37.00 in a research note released on Friday morning,BayStreet.CA reports.

A number of other brokerages also recently commented on SCR. Jefferies Financial Group decreased their price objective 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. TD Securities lifted their price target on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Finally, Royal Bank of Canada dropped their price objective on Strathcona Resources from C$37.00 to C$34.00 in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$36.13.

Strathcona Resources Price Performance

TSE:SCR opened at C$32.39 on Friday. The stock has a market capitalization of C$6.94 billion and a PE ratio of 7.49. Strathcona Resources has a 1-year low of C$20.16 and a 1-year high of C$37.69. The firm 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 current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29.

Strathcona Resources Announces Dividend

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

Insider Transactions at Strathcona Resources

In other 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 acquired at an average cost of C$32.56 per share, with a total value of C$97,668.00. Also, Senior Officer Scott Seipert acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of C$30.50 per share, for a total transaction of C$152,500.00. Corporate 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.