Strathcona Resources (TSE:SCR) Hits New 52-Week High – Here’s What Happened

Strathcona Resources Ltd. (TSE:SCR) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$41.86 and last traded at C$41.59, with a volume of 11695 shares. The stock had previously closed at C$41.47.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SCR. TD Securities increased their price target on Strathcona Resources from C$35.00 to C$36.00 and gave the company a “hold” rating in a research note on Friday, November 7th. Jefferies Financial Group upped their target price on Strathcona Resources from C$34.00 to C$38.00 in a report on Tuesday, November 11th. Royal Bank Of Canada lifted their price target on Strathcona Resources from C$36.00 to C$40.00 and gave the company a “sector perform” rating in a research note on Thursday, October 16th. National Bankshares lowered their price objective on Strathcona Resources from C$38.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 22nd. Finally, Scotiabank lifted their target price on shares of Strathcona Resources from C$34.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$36.86.

Strathcona Resources Trading Up 1.9%

The business’s fifty day moving average is C$37.20 and its 200-day moving average is C$33.98. The stock has a market capitalization of C$9.05 billion, a PE ratio of 8.25, 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 0.53 and a debt-to-equity ratio of 56.06.

Strathcona Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Monday, September 22nd were given a dividend of $0.30 per share. The ex-dividend date was Friday, September 12th. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Strathcona Resources’s payout ratio is currently 21.68%.

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.