Strathcona Resources (TSE:SCR) Price Target Raised to C$37.00 at Scotiabank

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

Other equities analysts have also issued reports about the stock. Royal Bank of Canada reduced their target price on shares of Strathcona Resources from C$37.00 to C$34.00 in a research note on Tuesday, September 17th. TD Securities upped their price objective on Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday. Finally, Jefferies Financial Group decreased their price objective on 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 research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$36.13.

Strathcona Resources Stock Down 0.9 %

TSE SCR traded down C$0.29 during trading hours on Friday, reaching C$32.21. 51,340 shares of the company’s stock were exchanged, compared to its average volume of 40,266. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. The company has a market capitalization of C$6.90 billion and a price-to-earnings ratio of 7.49. The company’s 50-day moving average is C$28.01 and its two-hundred day moving average is C$30.61. Strathcona Resources has a one year low of C$20.16 and a one year high of C$37.69.

Strathcona Resources (TSE:SCR) last released its quarterly 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 company 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 fiscal year.

Strathcona Resources Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Monday, September 16th. Strathcona Resources’s dividend payout ratio is currently 23.26%.

Insider Buying and Selling

In other Strathcona Resources news, Senior Officer Scott Seipert bought 5,000 shares of Strathcona Resources stock in a transaction dated 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. Also, Director Navjeet Dhillon purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of C$32.56 per share, for a total transaction of C$97,668.00. Over the last quarter, insiders have purchased 11,455 shares of company stock worth $359,864. 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.