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

Strathcona Resources Ltd. (TSE:SCR)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$42.97 and traded as low as C$41.71. Strathcona Resources shares last traded at C$42.07, with a volume of 403,080 shares traded.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Securities raised shares of Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Royal Bank Of Canada lifted their target price on shares of Strathcona Resources from C$36.00 to C$49.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Jefferies Financial Group upgraded shares of Strathcona Resources from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$45.00 to C$56.00 in a research note on Thursday, June 4th. National Bank Financial increased their price target on shares of Strathcona Resources from C$41.00 to C$69.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Finally, Roth Mkm set a C$40.00 price objective on shares of Strathcona Resources and gave the company a “buy” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Strathcona Resources has an average rating of “Moderate Buy” and a consensus target price of C$43.43.

Strathcona Resources Price Performance

The company has a debt-to-equity ratio of 50.35, a quick ratio of 11.09 and a current ratio of 0.39. The company has a 50-day moving average of C$42.89 and a 200-day moving average of C$36.70. The stock has a market capitalization of C$8.58 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of -2.02 and a beta of 2.61.

Strathcona Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, June 8th. Strathcona Resources’s dividend payout ratio (DPR) is currently 34.58%.

About Strathcona Resources

Strathcona is one of North America’s fastest growing pure play heavy oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life assets. The Company has three operations, including Cold Lake, Lloydminster Thermal and Lloydminster Conventional. Strathcona is a major producer in the Cold Lake region of Alberta. Our operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from best-in-class steam-assisted gravity drainage (SAGD) oil assets.