Strathcona Resources (TSE:SCR) Stock Price Up 4.6% – Time to Buy?

Strathcona Resources Ltd. (TSE:SCR)’s stock price rose 4.6% during mid-day trading on Friday . The stock traded as high as C$40.56 and last traded at C$40.54. Approximately 40,392 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 356,393 shares. The stock had previously closed at C$38.74.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Roth Mkm set a C$40.00 price objective on shares of Strathcona Resources and gave the stock a “buy” rating in a research note on Tuesday, March 10th. TD Securities reduced their target price on shares of Strathcona Resources from C$27.00 to C$25.00 and set a “hold” rating for the company in a report on Friday, March 13th. Royal Bank Of Canada increased their price target on shares of Strathcona Resources from C$35.00 to C$36.00 and gave the stock a “sector perform” rating in a research report on Friday, March 13th. Jefferies Financial Group dropped their price target on shares of Strathcona Resources from C$29.00 to C$26.00 in a research note on Tuesday, January 20th. Finally, Scotiabank cut their price objective on shares of Strathcona Resources from C$40.00 to C$33.00 in a research report on Tuesday, December 30th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Strathcona Resources has an average rating of “Hold” and a consensus price target of C$33.25.

Strathcona Resources Price Performance

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$8.89 billion, a P/E ratio of 9.76, a P/E/G ratio of -2.02 and a beta of 2.61. The firm has a 50 day moving average price of C$31.11 and a 200 day moving average price of C$34.78.

Strathcona Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders 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 dividend on an annualized basis and a yield of 2.9%. Strathcona Resources’s dividend payout ratio (DPR) is presently 27.29%.

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.