Strathcona Resources Ltd. (TSE:SCR) Raises Dividend to $0.26 Per Share

Strathcona Resources Ltd. (TSE:SCR) announced a quarterly dividend on Friday, March 21st, TickerTech Dividends reports. Investors of record on Monday, March 31st will be paid a dividend of 0.26 per share on Monday, March 31st. This represents a $1.04 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Friday, March 21st. This is a 4.0% increase from Strathcona Resources’s previous quarterly dividend of $0.25.

Strathcona Resources Price Performance

Shares of TSE:SCR opened at C$27.80 on Wednesday. The company’s fifty day moving average price is C$27.72 and its 200 day moving average price is C$28.66. Strathcona Resources has a 12 month low of C$22.75 and a 12 month high of C$37.69. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09. The firm has a market capitalization of C$5.95 billion and a P/E ratio of 16.03.

Analyst Ratings Changes

SCR has been the topic of a number of recent research reports. Atb Cap Markets lowered shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group lifted their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. TD Securities dropped their price objective on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. CIBC lifted their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, January 17th. Finally, Royal Bank of Canada lowered their target price on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating on the stock in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$35.50.

Insider Buying and Selling at Strathcona Resources

In related news, Senior Officer Pit Kim Chiu acquired 1,600 shares of Strathcona Resources stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of C$28.05 per share, for a total transaction of C$44,887.04. Also, Senior Officer Dale George Babiak acquired 6,410 shares of Strathcona Resources stock in a transaction on Monday, January 13th. The shares were bought at an average price of C$31.50 per share, for a total transaction of C$201,915.00. Insiders have purchased 20,450 shares of company stock worth $593,656 in the last ninety days. 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.