Strathcona Resources (TSE:SCR) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Strathcona Resources Ltd. (TSE:SCR)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$28.45 and traded as low as C$27.29. Strathcona Resources shares last traded at C$28.07, with a volume of 11,466 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada reduced their price objective on Strathcona Resources from C$37.00 to C$34.00 in a research report on Tuesday, September 17th. Jefferies Financial Group reduced their price objective on 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. Standpoint Research boosted their price objective on Strathcona Resources from C$40.00 to C$42.00 in a research report on Thursday, July 11th. Finally, TD Securities reduced their price target on Strathcona Resources from C$34.00 to C$30.00 in a research report on Tuesday, October 1st. Four equities 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$34.25.

Strathcona Resources Stock Up 1.6 %

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 stock has a 50-day simple moving average of C$28.45 and a 200-day simple moving average of C$30.95. The company has a market cap of C$6.01 billion and a price-to-earnings ratio of 6.53.

Strathcona Resources (TSE:SCR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported C$1.43 earnings per share for the quarter. The business had revenue of C$992.90 million during the quarter, compared to analyst estimates of C$978.00 million. Strathcona Resources had a return on equity of 12.32% and a net margin of 11.62%. As a group, analysts predict that Strathcona Resources Ltd. will post 2.8494405 EPS for the current year.

Strathcona Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a $0.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.56%. Strathcona Resources’s dividend payout ratio (DPR) is 23.26%.

Insider Activity

In other news, Director Navjeet Dhillon acquired 3,455 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was acquired at an average price of C$31.75 per share, for a total transaction of C$109,696.25. In other news, Director Navjeet Dhillon acquired 3,455 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was acquired at an average price of C$31.75 per share, for a total transaction of C$109,696.25. Also, Senior Officer Scott Seipert bought 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of C$30.50 per share, for a total transaction of C$152,500.00. 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.