Strathcona Resources Ltd. (TSE:SCR) Declares Dividend Increase – $0.30 Per Share

Strathcona Resources Ltd. (TSE:SCR) declared a quarterly dividend on Friday, June 13th, TickerTech Dividends reports. Investors of record on Monday, June 23rd will be given a dividend of 0.30 per share on Monday, June 23rd. This represents a $1.20 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, June 13th. This is a 15.4% increase from Strathcona Resources’s previous quarterly dividend of $0.26.

Strathcona Resources Stock Performance

TSE SCR traded up C$0.10 on Wednesday, hitting C$30.15. 23,520 shares of the stock traded hands, compared to its average volume of 47,290. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53. The business’s fifty day moving average is C$26.96 and its two-hundred day moving average is C$28.12. Strathcona Resources has a 12 month low of C$22.75 and a 12 month high of C$33.93. The firm has a market capitalization of C$6.45 billion and a price-to-earnings ratio of 17.39.

Analysts Set New Price Targets

A number of research analysts have recently commented on SCR shares. Scotiabank raised Strathcona Resources to a “strong-buy” rating in a research report on Wednesday, March 19th. CIBC lowered their price objective on Strathcona Resources from C$37.00 to C$33.00 in a research note on Thursday, April 10th. Royal Bank of Canada upped their price objective on shares of Strathcona Resources from C$34.00 to C$36.00 in a report on Thursday, May 22nd. Finally, TD Securities reduced their target price on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Strathcona Resources presently has a consensus rating of “Hold” and a consensus target price of C$35.29.

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.