Strathcona Resources Ltd. (TSE:SCR) Announces Quarterly Dividend of $0.26

Strathcona Resources Ltd. (TSE:SCR) announced a quarterly dividend on Friday, March 21st, TickerTech Dividends reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.26 per share on Monday, March 31st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, March 21st. This is a 4.0% increase from Strathcona Resources’s previous quarterly dividend of $0.25.

Strathcona Resources Stock Up 1.0 %

Shares of TSE:SCR opened at C$27.80 on Wednesday. The stock has a market capitalization of C$5.95 billion and a price-to-earnings ratio of 16.03. Strathcona Resources has a 1-year low of C$22.75 and a 1-year high of C$37.69. The company’s fifty day moving average is C$27.72 and its two-hundred day moving average is C$28.66. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53.

Insider Activity

In other news, Senior Officer Pit Kim Chiu bought 1,600 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of C$28.05 per share, for a total transaction of C$44,887.04. Also, Director Connie De Ciancio purchased 3,358 shares of Strathcona Resources stock in a transaction dated Tuesday, December 24th. The stock was bought at an average cost of C$28.77 per share, with a total value of C$96,609.66. In the last quarter, insiders acquired 20,450 shares of company stock worth $593,656. Corporate insiders own 91.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SCR. CIBC increased their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. Royal Bank of Canada dropped their price objective on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating on the stock in a report on Thursday, March 6th. TD Securities dropped their price objective on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Atb Cap Markets cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group raised their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$35.50.

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.