Strathcona Resources (TSE:SCR) Given New C$37.00 Price Target at Scotiabank

Strathcona Resources (TSE:SCR) had its price objective increased by Scotiabank from C$35.00 to C$37.00 in a research note published on Friday,BayStreet.CA reports.

A number of other analysts have also recently issued reports on the company. Royal Bank of Canada lowered their price objective on Strathcona Resources from C$37.00 to C$34.00 in a research report on Tuesday, September 17th. TD Securities boosted their price target on shares of Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Finally, Jefferies Financial Group reduced their price objective on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Strathcona Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of C$36.13.

Strathcona Resources Stock Performance

TSE:SCR traded down C$0.29 during trading hours on Friday, hitting C$32.21. 51,340 shares of the company traded hands, compared to its average volume of 40,266. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. The stock has a market capitalization of C$6.90 billion and a price-to-earnings ratio of 7.49. The firm has a 50-day moving average of C$28.01 and a 200 day moving average of C$30.61. Strathcona Resources has a twelve month low of C$20.16 and a twelve month high of C$37.69.

Strathcona Resources (TSE:SCR) last released its earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share for the quarter. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. The business had revenue of C$992.90 million during the quarter, compared to analysts’ expectations of C$978.00 million. On average, analysts forecast that Strathcona Resources will post 2.8494405 EPS for the current year.

Strathcona Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.10%. The ex-dividend date was Monday, September 16th. Strathcona Resources’s dividend payout ratio (DPR) is presently 23.26%.

Insider Transactions at Strathcona Resources

In related news, Director Navjeet Dhillon purchased 3,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were bought at an average price of C$32.56 per share, with a total value of C$97,668.00. Also, Senior Officer Scott Seipert bought 5,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of C$30.50 per share, for a total transaction of C$152,500.00. Insiders bought a total of 11,455 shares of company stock worth $359,864 over the last 90 days. 91.34% of the stock is owned by 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.