Strathcona Resources (TSE:SCR) Upgraded at Scotiabank

Scotiabank upgraded shares of Strathcona Resources (TSE:SCR) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

SCR has been the topic of a number of other research reports. TD Securities cut their target price 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. CIBC raised their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. Royal Bank of Canada cut their target price 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. Jefferies Financial Group raised their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. Finally, Atb Cap Markets cut Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$35.50.

Strathcona Resources Stock Performance

Shares of TSE SCR opened at C$28.97 on Wednesday. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06. The firm’s 50-day moving average price is C$27.59 and its two-hundred day moving average price is C$28.62. Strathcona Resources has a 52-week low of C$22.75 and a 52-week high of C$37.69. The stock has a market capitalization of C$6.20 billion and a P/E ratio of 16.71.

Strathcona Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Friday, March 21st. This is a boost from Strathcona Resources’s previous quarterly dividend of $0.25. Strathcona Resources’s payout ratio is 57.67%.

Insider Activity at Strathcona Resources

In related news, Senior Officer Allan Grabas acquired 8,802 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of C$27.47 per share, for a total transaction of C$241,790.94. Also, Senior Officer Dale George Babiak acquired 6,410 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average price of C$31.50 per share, for a total transaction of C$201,915.00. Insiders have purchased 18,850 shares of company stock worth $548,769 over the last quarter. 91.34% of the stock is currently owned by company insiders.

Strathcona Resources Company Profile

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.