Strathcona Resources (TSE:SCR) Given New C$36.00 Price Target at Royal Bank of Canada

Strathcona Resources (TSE:SCR) had its target price raised by Royal Bank of Canada from C$34.00 to C$36.00 in a report issued on Friday,BayStreet.CA reports.

A number of other research firms also recently commented on SCR. Scotiabank increased their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday. 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. Finally, TD Securities lifted their price target on Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday. Two 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$36.13.

Strathcona Resources Stock Performance

Shares of SCR opened at C$32.39 on Friday. The firm has a market cap of C$6.94 billion and a price-to-earnings ratio of 7.49. 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 business’s 50 day moving average is C$28.01 and its two-hundred day moving average is C$30.61. Strathcona Resources has a 52-week low of C$20.16 and a 52-week high of C$37.69.

Strathcona Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a dividend of $0.25 per share. 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 (DPR) is 23.26%.

Insider Buying and Selling at Strathcona Resources

In other news, Director Navjeet Dhillon acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price 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 business’s stock in a transaction that occurred 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. 91.34% of the stock is currently owned by insiders.

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.