Brokerages Set Strathcona Resources Ltd. (TSE:SCR) Target Price at C$43.00

Strathcona Resources Ltd. (TSE:SCR) has received an average rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is C$43.00.

A number of brokerages have issued reports on SCR. Royal Bank Of Canada boosted their target price on shares of Strathcona Resources from C$36.00 to C$49.00 and gave the company a “sector perform” rating in a report on Wednesday, April 8th. Jefferies Financial Group upgraded Strathcona Resources from a “hold” rating to a “buy” rating and lifted their price target for the company from C$45.00 to C$56.00 in a research report on Thursday, June 4th. TD Securities upgraded Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Finally, National Bank Financial decreased their price objective on Strathcona Resources from C$68.00 to C$66.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 8th.

Strathcona Resources Stock Performance

Shares of SCR stock opened at C$41.96 on Wednesday. The stock has a market capitalization of C$8.99 billion, a P/E ratio of 12.09, a PEG ratio of -2.02 and a beta of 2.61. The company has a current ratio of 0.39, a quick ratio of 11.09 and a debt-to-equity ratio of 50.35. The firm’s 50 day moving average is C$42.37 and its 200 day moving average is C$37.08. Strathcona Resources has a 12 month low of C$25.79 and a 12 month high of C$51.70.

Strathcona Resources Dividend Announcement

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