Brokerages Set Strathcona Resources Ltd. (TSE:SCR) Target Price at C$39.14

Strathcona Resources Ltd. (TSE:SCR) has received an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$43.43.

Several brokerages have recently issued reports on SCR. Royal Bank Of Canada increased their price target on shares of Strathcona Resources from C$36.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Jefferies Financial Group raised shares of Strathcona Resources from a “hold” rating to a “buy” rating and increased their price target for the stock from C$45.00 to C$56.00 in a research report on Thursday. Roth Mkm set a C$40.00 price target on shares of Strathcona Resources and gave the stock a “buy” rating in a research report on Tuesday, March 10th. TD Securities raised shares of Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Finally, National Bank Financial increased their price target on shares of Strathcona Resources from C$41.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st.

Strathcona Resources Stock Down 1.4%

Shares of SCR opened at C$47.67 on Tuesday. The stock has a market capitalization of C$10.21 billion, a PE ratio of 13.74, a P/E/G ratio of -2.02 and a beta of 2.61. Strathcona Resources has a 1 year low of C$25.79 and a 1 year high of C$51.70. The company has a debt-to-equity ratio of 50.35, a quick ratio of 11.09 and a current ratio of 0.39. The company’s 50-day simple moving average is C$42.49 and its 200-day simple moving average is C$36.62.

Strathcona Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 17th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, June 8th. Strathcona Resources’s dividend payout ratio is presently 34.58%.

Strathcona Resources Company Profile

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.