Strathcona Resources (TSE:SCR) Stock Passes Below 50-Day Moving Average – Here’s Why

Strathcona Resources Ltd. (TSE:SCR) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$29.65 and traded as low as C$28.81. Strathcona Resources shares last traded at C$29.45, with a volume of 552,343 shares trading hands.

Analyst Ratings Changes

A number of analysts have commented on SCR shares. Scotiabank decreased their target price on Strathcona Resources from C$40.00 to C$33.00 in a research report on Tuesday, December 30th. Jefferies Financial Group decreased their price objective on shares of Strathcona Resources from C$29.00 to C$26.00 in a research report on Tuesday, January 20th. TD Securities increased their price objective on shares of Strathcona Resources from C$35.00 to C$36.00 and gave the company a “hold” rating in a research note on Friday, November 7th. ATB Cormark Capital Markets dropped their target price on shares of Strathcona Resources from C$42.00 to C$32.00 in a report on Tuesday, December 23rd. Finally, National Bank Financial raised shares of Strathcona Resources from a “hold” rating to an “outperform” rating and reduced their price target for the company from C$36.00 to C$32.00 in a report on Friday, January 9th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$32.43.

Strathcona Resources Stock Performance

The company has a market capitalization of C$6.31 billion, a PE ratio of 5.75, a price-to-earnings-growth ratio of -2.02 and a beta of 2.61. The stock’s fifty day simple moving average is C$29.65 and its 200-day simple moving average is C$35.15. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53.

Strathcona Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, December 5th. Strathcona Resources’s payout ratio is presently 21.68%.

Strathcona Resources Company Profile

Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties.