Strathcona Resources (TSE:SCR) Stock Crosses Above Fifty Day Moving Average – Time to Sell?

Strathcona Resources Ltd. (TSE:SCR) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$41.84 and traded as high as C$41.97. Strathcona Resources shares last traded at C$41.97, with a volume of 891,653 shares changing hands.

Analyst Ratings Changes

Several research analysts have commented on SCR shares. TD Securities raised Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Royal Bank Of Canada increased their target price on Strathcona Resources from C$36.00 to C$49.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Jefferies Financial Group upgraded Strathcona Resources from a “hold” rating to a “buy” rating and raised their target price for the company from C$45.00 to C$56.00 in a report on Thursday, June 4th. Finally, National Bank Financial reduced their price target on 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 given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$43.00.

Strathcona Resources Stock Up 5.4%

The firm’s 50 day moving average price is C$41.84 and its two-hundred day moving average price is C$37.43. The firm has a market capitalization of C$8.99 billion, a PE ratio of 12.10, a P/E/G ratio of -2.02 and a beta of 2.61. The company has a quick ratio of 11.09, a current ratio of 0.39 and a debt-to-equity ratio of 50.35.

Strathcona Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 17th were issued a $0.30 dividend. The ex-dividend date was Monday, June 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Strathcona Resources’s payout ratio 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.