Strathcona Resources (TSE:SCR) Price Target Raised to C$32.00

Strathcona Resources (TSE:SCR) had its target price lifted by Jefferies Financial Group from C$30.00 to C$32.00 in a report issued on Monday morning,BayStreet.CA reports.

Several other research analysts have also issued reports on SCR. Scotiabank raised their price target on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, November 15th. Royal Bank of Canada boosted their price objective on Strathcona Resources from C$34.00 to C$36.00 in a research note on Friday, November 15th. ATB Capital lifted their target price on Strathcona Resources from C$37.00 to C$38.00 in a report on Friday, November 15th. Finally, TD Securities increased their price target on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$36.38.

Strathcona Resources Stock Performance

Shares of Strathcona Resources stock opened at C$27.65 on Monday. The stock has a market cap of C$5.92 billion and a price-to-earnings ratio of 6.43. Strathcona Resources has a twelve month low of C$21.35 and a twelve month high of C$37.69. The company’s fifty day moving average is C$29.45 and its 200 day moving average is C$30.30. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29.

Strathcona Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Monday, December 16th. Strathcona Resources’s payout ratio is 23.26%.

Insider Activity at Strathcona Resources

In related news, Director Navjeet Dhillon purchased 3,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of C$32.56 per share, for a total transaction of C$97,668.00. 91.34% of the stock is currently owned by 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.