Strathcona Resources (TSE:SCR) Sets New 12-Month High – Here’s Why

Strathcona Resources Ltd. (TSE:SCR)’s stock price hit a new 52-week high on Monday . The stock traded as high as C$44.16 and last traded at C$43.52, with a volume of 433886 shares traded. The stock had previously closed at C$42.17.

Analyst Ratings Changes

Several brokerages have recently commented on SCR. Scotiabank lowered their price target on shares of Strathcona Resources from C$40.00 to C$33.00 in a research report on Tuesday, December 30th. Jefferies Financial Group reduced their price objective on shares of Strathcona Resources from C$29.00 to C$26.00 in a research note on Tuesday, January 20th. ATB Cormark Capital Markets lowered their target price on shares of Strathcona Resources from C$42.00 to C$32.00 in a report on Tuesday, December 23rd. Roth Mkm set a C$40.00 price target on Strathcona Resources and gave the company a “buy” rating in a research note on Tuesday, March 10th. Finally, National Bank Financial increased their target price on Strathcona Resources from C$41.00 to C$69.00 and gave the company an “outperform” rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Strathcona Resources currently has an average rating of “Hold” and an average target price of C$36.75.

Strathcona Resources Trading Down 4.2%

The business’s 50-day moving average price is C$32.08 and its two-hundred day moving average price is C$34.83. The company has a market capitalization of C$8.64 billion, a P/E ratio of 9.49, a PEG ratio of -2.02 and a beta of 2.61. The company has a debt-to-equity ratio of 49.94, a current ratio of 0.37 and a quick ratio of 11.09.

Strathcona Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 27th were given a $0.30 dividend. The ex-dividend date was Friday, March 20th. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. Strathcona Resources’s payout ratio is currently 27.29%.

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.