Analysts Set Strathcona Resources Ltd. (TSE:SCR) Price Target at C$35.50

Strathcona Resources Ltd. (TSE:SCR) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$35.50.

Several research firms recently issued reports on SCR. Scotiabank raised shares of Strathcona Resources to a “strong-buy” rating in a report on Wednesday, March 19th. CIBC upped their price target on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. Jefferies Financial Group lifted their price objective on Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. TD Securities cut their price objective on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. Finally, Atb Cap Markets lowered Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Insiders Place Their Bets

In other Strathcona Resources news, Senior Officer Allan Grabas purchased 8,802 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of C$27.47 per share, with a total value of C$241,790.94. Also, Senior Officer Dale George Babiak purchased 6,410 shares of the business’s stock in a transaction on Monday, January 13th. The shares were acquired at an average price of C$31.50 per share, with a total value of C$201,915.00. Corporate insiders own 91.34% of the company’s stock.

Strathcona Resources Stock Down 2.8 %

Shares of Strathcona Resources stock opened at C$28.11 on Monday. Strathcona Resources has a 12-month low of C$22.75 and a 12-month high of C$37.69. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06. The stock has a 50 day moving average price of C$27.50 and a two-hundred day moving average price of C$28.63. The stock has a market capitalization of C$6.01 billion and a P/E ratio of 16.21.

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 represents a $1.04 annualized dividend and a yield of 3.70%. This is a positive change from Strathcona Resources’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 21st. Strathcona Resources’s payout ratio is currently 57.67%.

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.