Strathcona Resources (TSE:SCR) Announces Quarterly Earnings Results

Strathcona Resources (TSE:SCR) posted its quarterly earnings results on Thursday. The company reported C$1.76 earnings per share (EPS) for the quarter, FiscalAI reports. Strathcona Resources had a return on equity of 13.89% and a net margin of 20.18%.The business had revenue of C$2.73 billion for the quarter.

Strathcona Resources Trading Down 2.9%

Shares of Strathcona Resources stock traded down C$1.17 during midday trading on Friday, reaching C$38.66. 261,557 shares of the company’s stock traded hands, compared to its average volume of 427,042. The stock has a 50 day moving average of C$41.21 and a 200-day moving average of C$38.06. Strathcona Resources has a 12 month low of C$25.79 and a 12 month high of C$51.70. The company has a market cap of C$8.28 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of -2.02 and a beta of 2.61. The company has a debt-to-equity ratio of 50.35, a quick ratio of 11.09 and a current ratio of 0.39.

Strathcona Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 17th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. Strathcona Resources’s payout ratio is 34.58%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. TD Securities raised Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Jefferies Financial Group raised shares of Strathcona Resources from a “hold” rating to a “buy” rating and increased their price target for the company from C$45.00 to C$56.00 in a research report on Thursday, June 4th. Finally, National Bank Financial decreased their price objective on shares of Strathcona Resources from C$68.00 to C$66.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Strathcona Resources has an average rating of “Buy” and a consensus target price of C$43.00.

Strathcona Resources Company Profile

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.