Brokerages Set Strathcona Resources Ltd. (TSE:SCR) PT at C$34.86

Key Points

• Strathcona Resources Ltd. has achieved an average analyst rating of "Moderate Buy" with a target price ranging from C$34.86 among nine rating firms.
• The company announced an increase in its quarterly dividend to $0.30 per share, representing a yield of 3.6% and an annualized dividend of $1.20.
• Insiders have shown confidence in the company by purchasing 6,783 shares in the last 90 days, indicating strong ownership with 91.34% of the stock held by corporate insiders.

Shares of Strathcona Resources Ltd. (TSE:SCR - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine brokerages that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$34.86.

SCR has been the topic of a number of research reports. Royal Bank Of Canada increased their price objective on shares of Strathcona Resources from C$34.00 to C$36.00 in a research note on Thursday, May 22nd. ATB Capital lifted their price objective on Strathcona Resources from C$32.00 to C$35.00 and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. National Bank Financial upgraded Strathcona Resources to a "strong-buy" rating in a research note on Sunday, June 29th. National Bankshares set a C$42.00 price target on Strathcona Resources and gave the company an "outperform" rating in a research report on Monday, June 30th. Finally, Cibc World Mkts lowered Strathcona Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd.

Strathcona Resources Stock Down 0.2%

Shares of TSE:SCR traded down C$0.08 during trading on Wednesday, reaching C$33.94. The stock had a trading volume of 183,265 shares, compared to its average volume of 55,221. The firm's 50-day simple moving average is C$31.63 and its 200 day simple moving average is C$28.64. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06. Strathcona Resources has a one year low of C$22.75 and a one year high of C$35.29. The company has a market capitalization of C$7.26 billion and a P/E ratio of 19.57.

Strathcona Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 12th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.5%. Strathcona Resources's payout ratio is 57.67%.

Insider Transactions at Strathcona Resources

In related news, Senior Officer Pit Kim Chiu purchased 1,665 shares of Strathcona Resources stock in a transaction dated Wednesday, June 11th. The stock was bought at an average cost of C$30.00 per share, for a total transaction of C$49,950.00. Also, Director Connie De Ciancio purchased 4,293 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was purchased at an average price of C$32.50 per share, for a total transaction of C$139,522.50. In the last 90 days, insiders purchased 6,783 shares of company stock valued at $214,404. 91.34% of the stock is owned by insiders.

Strathcona Resources Company Profile

Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan.