Strathcona Resources (TSE:SCR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Strathcona Resources (TSE:SCR) had its price target upped by Royal Bank of Canada from C$34.00 to C$36.00 in a research note published on Friday morning,BayStreet.CA reports.

SCR has been the topic of a number of other reports. Jefferies Financial Group dropped their target price on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a report on Monday, September 16th. TD Securities upped their price target on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Finally, Scotiabank increased their price objective on Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Strathcona Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$36.13.

Strathcona Resources Price Performance

Shares of Strathcona Resources stock opened at C$32.39 on Friday. Strathcona Resources has a 52 week low of C$20.16 and a 52 week high of C$37.69. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. The stock has a market cap of C$6.94 billion and a PE ratio of 7.49. The company’s 50-day moving average price is C$28.01 and its two-hundred day moving average price is C$30.61.

Strathcona Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.09%. The ex-dividend date was Monday, September 16th. Strathcona Resources’s payout ratio is 23.26%.

Insider Activity

In related news, Director Navjeet Dhillon acquired 3,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of C$32.56 per share, with a total value of C$97,668.00. Also, Senior Officer Scott Seipert acquired 5,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of C$30.50 per share, for a total transaction of C$152,500.00. Corporate insiders own 91.34% of the company’s stock.

Strathcona Resources Company Profile

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.