Insider Buying: Strathcona Resources Ltd. (TSE:SCR) Director Purchases 3,358 Shares of Stock

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

Strathcona Resources Trading Up 2.7 %

Shares of TSE SCR traded up C$0.78 during midday trading on Tuesday, hitting C$29.54. 12,751 shares of the company traded hands, compared to its average volume of 39,217. Strathcona Resources Ltd. has a 12-month low of C$21.35 and a 12-month high of C$37.69. The firm has a market cap of C$6.33 billion and a P/E ratio of 6.87. The stock has a 50-day moving average price of C$29.41 and a 200 day moving average price of C$30.17. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53.

Strathcona Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.39%. Strathcona Resources’s dividend payout ratio (DPR) is 23.26%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group increased their target price on Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. ATB Capital increased their price target on shares of Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. TD Securities raised their price target on shares of Strathcona Resources from C$30.00 to C$31.00 in a report on Friday, November 15th. Royal Bank of Canada upped their price objective on shares of Strathcona Resources from C$34.00 to C$36.00 in a research note on Friday, November 15th. Finally, Scotiabank boosted their price target on Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, 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.