Strathcona Resources Ltd. (TSE:SCR) Increases Dividend to $0.30 Per Share

Strathcona Resources Ltd. (TSE:SCR - Get Free Report) announced a quarterly dividend on Friday, June 13th, TickerTech Dividends reports. Investors of record on Monday, June 23rd will be given a dividend of 0.30 per share on Monday, June 23rd. This represents a $1.20 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Friday, June 13th. This is a 15.4% increase from Strathcona Resources's previous quarterly dividend of $0.26.

Strathcona Resources Stock Down 4.2%

SCR stock traded down C$1.37 during trading on Friday, hitting C$31.50. 81,439 shares of the company's stock were exchanged, compared to its average volume of 48,667. The business has a 50-day moving average price of C$27.40 and a two-hundred day moving average price of C$28.11. The stock has a market capitalization of C$6.74 billion and a price-to-earnings ratio of 18.17. Strathcona Resources has a 52-week low of C$22.75 and a 52-week high of C$33.93. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06.

Insider Activity

In other Strathcona Resources news, Senior Officer Pit Kim Chiu acquired 1,665 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were bought at an average cost of C$30.00 per share, for a total transaction of C$49,950.00. Corporate insiders own 91.34% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SCR. TD Securities decreased their target price on Strathcona Resources from C$32.00 to C$29.00 and set a "hold" rating for the company in a research note on Thursday, March 6th. Scotiabank upgraded Strathcona Resources to a "strong-buy" rating in a research note on Wednesday, March 19th. Royal Bank of Canada boosted their target price on Strathcona Resources from C$34.00 to C$36.00 in a research note on Thursday, May 22nd. Finally, CIBC decreased their target price on Strathcona Resources from C$37.00 to C$33.00 in a research note on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Strathcona Resources has an average rating of "Hold" and an average target price of C$35.29.

About Strathcona Resources

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.