Atb Cap Markets Downgrades Strathcona Resources (TSE:SCR) to Hold

Atb Cap Markets downgraded shares of Strathcona Resources (TSE:SCR) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Several other research firms also recently weighed in on SCR. Scotiabank upped their price target on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, November 15th. ATB Capital upped their target price on shares of Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. Royal Bank of Canada lifted their price target on shares of Strathcona Resources from C$34.00 to C$36.00 in a report on Friday, November 15th. Jefferies Financial Group increased their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday. Finally, TD Securities lifted their target price on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday, November 15th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$36.38.

Strathcona Resources Price Performance

TSE:SCR opened at C$27.31 on Wednesday. The business’s 50-day simple moving average is C$29.43 and its two-hundred day simple moving average is C$30.24. Strathcona Resources has a 52 week low of C$21.35 and a 52 week high of C$37.69. The stock has a market cap of C$5.85 billion and a PE ratio of 6.35. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29.

Strathcona Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, December 16th. Strathcona Resources’s dividend payout ratio is 23.26%.

Insider Activity at Strathcona Resources

In related news, Director Navjeet Dhillon purchased 3,000 shares of the stock in a transaction that occurred on 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. 91.34% of the stock is owned by 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.