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

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

SCR has been the topic of a number of recent research reports. Scotiabank raised Strathcona Resources to a “strong-buy” rating in a report on Friday, June 14th. TD Securities increased their price objective on Strathcona Resources from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Thursday, May 16th. Standpoint Research increased their price objective on Strathcona Resources from C$40.00 to C$42.00 in a report on Thursday, July 11th. Finally, BMO Capital Markets increased their price objective on Strathcona Resources from C$33.00 to C$35.00 in a report on Wednesday, May 15th.

Strathcona Resources Stock Up 1.9 %

Shares of TSE SCR opened at C$31.22 on Monday. Strathcona Resources has a one year low of C$20.16 and a one year high of C$37.69. The company has a debt-to-equity ratio of 50.29, a current ratio of 0.53 and a quick ratio of 11.09. The business’s fifty day moving average price is C$31.52 and its 200-day moving average price is C$30.45. The stock has a market capitalization of C$6.69 billion and a PE ratio of 7.26.

Strathcona Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 3.20%. Strathcona Resources’s payout ratio is 23.26%.

Insiders Place Their Bets

In other Strathcona Resources news, Director Navjeet Dhillon acquired 3,455 shares of the company’s stock in a transaction on 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. Company 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.