Strathcona Resources (TSE:SCR) Given New C$34.00 Price Target at Royal Bank of Canada

Strathcona Resources (TSE:SCR) had its price target decreased by Royal Bank of Canada from C$35.00 to C$34.00 in a research report sent to investors on Thursday,BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research analysts have also recently issued reports on the company. Atb Cap Markets cut Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. ATB Capital raised their price objective on shares of Strathcona Resources from C$37.00 to C$38.00 in a report on Friday, November 15th. Scotiabank boosted their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. CIBC increased their price target on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, January 17th. Finally, Jefferies Financial Group lifted their price target 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Strathcona Resources currently has an average rating of “Moderate Buy” and an average target price of C$35.50.

Strathcona Resources Price Performance

TSE SCR opened at C$26.27 on Thursday. The stock has a market capitalization of C$5.62 billion and a price-to-earnings ratio of 15.15. Strathcona Resources has a 1-year low of C$22.75 and a 1-year high of C$37.69. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09. The business’s fifty day moving average price is C$28.32 and its 200-day moving average price is C$28.90.

Strathcona Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.81%. Strathcona Resources’s dividend payout ratio (DPR) is presently 57.67%.

Insiders Place Their Bets

In other Strathcona Resources news, Director Connie De Ciancio purchased 3,358 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was acquired at an average cost of C$28.77 per share, for a total transaction of C$96,609.66. Also, Senior Officer Dale George Babiak acquired 6,410 shares of Strathcona Resources stock in a transaction dated 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. In the last quarter, insiders acquired 11,648 shares of company stock worth $351,865. Corporate insiders own 91.34% of the company’s stock.

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.