Strathcona Resources (TSE:SCR) Stock Price Expected to Rise, ATB Capital Analyst Says

Strathcona Resources (TSE:SCR) had its price target upped by ATB Capital from C$32.00 to C$35.00 in a research note published on Tuesday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other research firms also recently issued reports on SCR. Royal Bank Of Canada boosted their price objective on shares of Strathcona Resources from C$34.00 to C$36.00 in a research note on Thursday, May 22nd. TD Securities decreased 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. CIBC decreased their target price on shares of Strathcona Resources from C$37.00 to C$33.00 in a research note on Thursday, April 10th. Finally, Scotiabank upgraded shares of Strathcona Resources to a “strong-buy” rating in a research note on Wednesday, March 19th. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Strathcona Resources currently has an average rating of “Hold” and an average price target of C$34.86.

Strathcona Resources Price Performance

SCR opened at C$31.25 on Tuesday. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06. Strathcona Resources has a 52-week low of C$22.75 and a 52-week high of C$33.93. The company has a 50 day moving average of C$27.90 and a two-hundred day moving average of C$28.12. The company has a market cap of C$6.68 billion and a P/E ratio of 18.02.

Strathcona Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Monday, June 23rd will be paid a $0.30 dividend. The ex-dividend date is Friday, June 13th. This is an increase from Strathcona Resources’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a dividend yield of 3.84%. Strathcona Resources’s dividend payout ratio is 57.67%.

Insider Activity

In related news, Senior Officer Pit Kim Chiu bought 1,665 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of C$30.00 per share, with a total value of C$49,950.00. Insiders own 91.34% of the company’s stock.

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.