Strathcona Resources Ltd. (TSE:SCR) Given Average Recommendation of "Buy" by Analysts

Key Points

• Analyst sentiment is positive on Strathcona Resources, with six covering analysts giving it an average rating of “Buy.” The group includes four buy ratings, one strong buy, and one hold, with an average 12-month price target of C$43.00.
• Several firms recently adjusted their views, including Jefferies upgrading the stock to buy and raising its target to C$56.00, while TD Securities moved it to strong buy. RBC also lifted its target to C$49.00, though it kept a sector perform rating.
• The stock was up 2.8% and opened at C$40.73, sitting below its 12-month high of C$51.70 but above its low of C$25.79. Strathcona also paid a quarterly dividend of C$0.30, equal to an annualized yield of 2.9%.

Shares of Strathcona Resources Ltd. (TSE:SCR - Get Free Report) have been assigned an average recommendation of "Buy" from the six analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$43.00.

Several research analysts have issued reports on SCR shares. Royal Bank Of Canada upped their price target on Strathcona Resources from C$36.00 to C$49.00 and gave the company a "sector perform" rating in a report on Wednesday, April 8th. Jefferies Financial Group raised Strathcona Resources from a "hold" rating to a "buy" rating and raised their price objective for the stock from C$45.00 to C$56.00 in a research note on Thursday, June 4th. TD Securities raised Strathcona Resources from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 17th. Finally, National Bank Financial cut their target price on Strathcona Resources from C$68.00 to C$66.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th.

Strathcona Resources Stock Up 2.8%

SCR stock opened at C$40.73 on Wednesday. Strathcona Resources has a 12 month low of C$25.79 and a 12 month high of C$51.70. The firm has a market cap of C$8.73 billion, a PE ratio of 11.74, a P/E/G ratio of -2.02 and a beta of 2.61. The firm has a 50 day simple moving average of C$42.61 and a 200 day simple moving average of C$36.86. The company has a debt-to-equity ratio of 50.35, a current ratio of 0.39 and a quick ratio of 11.09.

Strathcona Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 17th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Strathcona Resources's dividend payout ratio (DPR) is currently 34.58%.

Strathcona Resources Company Profile

Strathcona is one of North America's fastest growing pure play heavy oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life assets. The Company has three operations, including Cold Lake, Lloydminster Thermal and Lloydminster Conventional. Strathcona is a major producer in the Cold Lake region of Alberta. Our operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from best-in-class steam-assisted gravity drainage (SAGD) oil assets.

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