Insider Buying: Strathcona Resources Ltd. (TSE:SCR) Director Buys C$96,609.66 in Stock

Strathcona Resources Ltd. (TSE:SCR) Director Connie De Ciancio purchased 3,358 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were purchased at an average price of C$28.77 per share, for a total transaction of C$96,609.66.

Strathcona Resources Stock Up 3.9 %

SCR opened at C$29.89 on Friday. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. The company has a market cap of C$6.40 billion and a price-to-earnings ratio of 6.95. Strathcona Resources Ltd. has a one year low of C$21.35 and a one year high of C$37.69. The business’s fifty day moving average is C$29.59 and its two-hundred day moving average is C$30.06.

Strathcona Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.35%. Strathcona Resources’s dividend payout ratio is presently 23.26%.

Analyst Ratings Changes

Several equities analysts have issued reports on SCR shares. Scotiabank boosted their target price on Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. TD Securities upped their price objective on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday, November 15th. ATB Capital raised their target price on Strathcona Resources from C$37.00 to C$38.00 in a report on Friday, November 15th. Jefferies Financial Group upped their price target on shares of Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. Finally, Atb Cap Markets downgraded shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$36.38.

About Strathcona Resources

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.