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

Strathcona Resources (TSE:SCR) had its price objective hoisted by CIBC from C$35.00 to C$37.00 in a research report report published on Friday morning,BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada dropped their target price on shares of Strathcona Resources from C$36.00 to C$35.00 in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. TD Securities boosted their price objective on shares of Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. ATB Capital boosted their target price on shares of Strathcona Resources from C$37.00 to C$38.00 in a research note on Friday, November 15th. Finally, Atb Cap Markets lowered shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$35.88.

Strathcona Resources Stock Performance

TSE:SCR opened at C$29.40 on Friday. Strathcona Resources has a twelve month low of C$22.45 and a twelve month high of C$37.69. The firm has a market capitalization of C$6.30 billion and a price-to-earnings ratio of 6.84. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. The firm’s fifty day simple moving average is C$30.47 and its 200 day simple moving average is C$29.89.

Strathcona Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Monday, December 16th. Strathcona Resources’s dividend payout ratio is presently 23.26%.

Insider Activity

In other news, Director Navjeet Dhillon bought 3,000 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average price of C$32.56 per share, for a total transaction of C$97,668.00. Also, Senior Officer Pit Kim Chiu purchased 1,600 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of C$28.05 per share, for a total transaction of C$44,887.04. Insiders have bought 14,648 shares of company stock worth $449,533 over the last 90 days. 91.34% of the stock is owned by company 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.