Strathcona Resources (TSE:SCR) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Shares of Strathcona Resources Ltd. (TSE:SCR) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$28.45 and traded as low as C$27.29. Strathcona Resources shares last traded at C$28.07, with a volume of 11,466 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on SCR. Royal Bank of Canada cut their price objective on shares of Strathcona Resources from C$37.00 to C$34.00 in a research report on Tuesday, September 17th. Standpoint Research upped their price target on shares of Strathcona Resources from C$40.00 to C$42.00 in a report on Thursday, July 11th. TD Securities cut their price target on shares of Strathcona Resources from C$34.00 to C$30.00 in a report on Tuesday, October 1st. Finally, Jefferies Financial Group cut their price target on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a report on Monday, September 16th. Four investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$34.25.

Strathcona Resources Trading Down 1.1 %

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’s fifty day simple moving average is C$28.38 and its 200-day simple moving average is C$30.90. The company has a market capitalization of C$5.83 billion and a P/E ratio of 6.40.

Strathcona Resources (TSE:SCR) last issued its earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of C$978.00 million. Research analysts predict that Strathcona Resources Ltd. will post 2.8494405 earnings per share for the current year.

Strathcona Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Monday, September 16th. Strathcona Resources’s payout ratio is 23.26%.

Insider Buying and Selling at Strathcona Resources

In other news, Senior Officer Scott Seipert purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of C$30.50 per share, with a total value of C$152,500.00. In related news, Director Navjeet Dhillon acquired 3,455 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average cost of C$31.75 per share, with a total value of C$109,696.25. Also, Senior Officer Scott Seipert acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of C$30.50 per share, with a total value of C$152,500.00. 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.