Royal Bank of Canada Boosts Strathcona Resources (TSE:SCR) Price Target to C$36.00

Strathcona Resources (TSE:SCR) had its price objective boosted by Royal Bank of Canada from C$34.00 to C$36.00 in a research note published on Friday morning,BayStreet.CA reports.

A number of other equities research analysts have also recently commented on SCR. TD Securities lifted their price target on shares of Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Jefferies Financial Group dropped their price target on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. Finally, Scotiabank lifted their price objective on Strathcona Resources from C$35.00 to C$37.00 in a report on Friday. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Strathcona Resources has a consensus rating of “Moderate Buy” and an average price target of C$36.13.

Strathcona Resources Stock Performance

Shares of TSE SCR traded down C$0.29 during mid-day trading 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 firm has a 50-day moving average price of C$28.01 and a two-hundred day moving average price of C$30.61. The company has a debt-to-equity ratio of 50.29, a current ratio of 0.53 and a quick ratio of 11.09. The firm has a market capitalization of C$6.90 billion and a price-to-earnings ratio of 7.49. Strathcona Resources has a 52 week low of C$20.16 and a 52 week high of C$37.69.

Strathcona Resources (TSE:SCR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported C$1.43 EPS for the quarter. The business had revenue of C$992.90 million for the quarter, compared to analyst estimates of C$978.00 million. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. Analysts predict that Strathcona Resources will post 2.8494405 EPS for the current year.

Strathcona Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a $0.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 3.10%. Strathcona Resources’s dividend payout ratio is currently 23.26%.

Insider Buying and Selling at Strathcona Resources

In related news, Senior Officer Scott Seipert acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of C$32.56 per share, for a total transaction of C$97,668.00. Insiders purchased 11,455 shares of company stock valued at $359,864 in the last quarter. 91.34% of the stock is currently owned by corporate insiders.

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.