Strathcona Resources (TSE:SCR) Hits New 52-Week High - Time to Buy?

Strathcona Resources Ltd. (TSE:SCR - Get Free Report) reached a new 52-week high on Monday . The company traded as high as C$33.48 and last traded at C$33.15, with a volume of 98783 shares traded. The stock had previously closed at C$32.84.

Analyst Upgrades and Downgrades

SCR has been the topic of a number of research reports. National Bank Financial raised shares of Strathcona Resources to a "strong-buy" rating in a research note on Sunday, June 29th. CIBC cut their price objective on shares of Strathcona Resources from C$37.00 to C$33.00 in a research report on Thursday, April 10th. National Bankshares set a C$42.00 target price on shares of Strathcona Resources and gave the company an "outperform" rating in a research note on Monday, June 30th. Royal Bank Of Canada increased their price target on shares of Strathcona Resources from C$34.00 to C$36.00 in a research note on Thursday, May 22nd. Finally, ATB Capital lifted their price objective on shares of 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. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$34.86.

Strathcona Resources Stock Up 2.0%

The firm has a market capitalization of C$7.17 billion and a price-to-earnings ratio of 19.32. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53. The business's 50 day moving average is C$29.54 and its 200-day moving average is C$28.23.

Strathcona Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 23rd were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Strathcona Resources's previous quarterly dividend of $0.26. Strathcona Resources's payout ratio is currently 57.67%.

Insiders Place Their Bets

In other Strathcona Resources news, Senior Officer Pit Kim Chiu purchased 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, with a total value of C$49,950.00. 91.34% of the stock is currently owned by insiders.

About Strathcona Resources

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.

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