Shares of Strathcona Resources Ltd. (TSE:SCR – Get Free Report) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$35.50.
SCR has been the topic of a number of recent research reports. Scotiabank raised Strathcona Resources to a “strong-buy” rating in a report on Friday, June 14th. TD Securities increased their price objective on Strathcona Resources from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Thursday, May 16th. Standpoint Research increased their price objective on Strathcona Resources from C$40.00 to C$42.00 in a report on Thursday, July 11th. Finally, BMO Capital Markets increased their price objective on Strathcona Resources from C$33.00 to C$35.00 in a report on Wednesday, May 15th.
Check Out Our Latest Report on Strathcona Resources
Strathcona Resources Stock Up 1.9 %
Strathcona Resources Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 3.20%. Strathcona Resources’s payout ratio is 23.26%.
Insiders Place Their Bets
In other Strathcona Resources news, Director Navjeet Dhillon acquired 3,455 shares of the company’s stock in a transaction on Monday, August 19th. The stock was acquired at an average price of C$31.75 per share, for a total transaction of C$109,696.25. Company insiders own 91.34% of the company’s stock.
About Strathcona Resources
Strathcona Resources Ltd. acquires, explores, develops, and produces petroleum and natural gas reserves in Canada. It operates through three segments: Cold Lake Thermal, Lloydminster Heavy Oil, and Montney. The Cold Lake Thermal segment includes three producing assets in the Cold Lake region of Northern Alberta; and Lindbergh, Orion, and Tucker.
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