Strathcona Resources (TSE:SCR) Reaches New 1-Year High – Here’s What Happened

Shares of Strathcona Resources Ltd. (TSE:SCR) hit a new 52-week high on Thursday . The company traded as high as C$40.43 and last traded at C$39.77, with a volume of 262244 shares trading hands. The stock had previously closed at C$39.29.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. TD Securities dropped their price objective on shares of Strathcona Resources from C$27.00 to C$25.00 and set a “hold” rating for the company in a research note on Friday, March 13th. Jefferies Financial Group lowered their target price on Strathcona Resources from C$29.00 to C$26.00 in a report on Tuesday, January 20th. Royal Bank Of Canada increased their price target on Strathcona Resources from C$35.00 to C$36.00 and gave the company a “sector perform” rating in a report on Friday, March 13th. National Bank Financial boosted their price objective on Strathcona Resources from C$32.00 to C$41.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. Finally, Roth Mkm set a C$40.00 target price on Strathcona Resources and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$33.25.

Strathcona Resources Trading Up 1.0%

The company has a quick ratio of 11.09, a current ratio of 0.37 and a debt-to-equity ratio of 49.94. The stock has a market cap of C$8.51 billion, a price-to-earnings ratio of 7.75, a PEG ratio of -2.02 and a beta of 2.61. The company’s fifty day moving average is C$29.65 and its two-hundred day moving average is C$34.74.

Strathcona Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 27th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, March 20th. This represents a $1.20 annualized dividend and a yield of 3.0%. Strathcona Resources’s payout ratio is presently 21.68%.

About Strathcona Resources

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.