Strathcona Resources (TSE:SCR) Sets New 1-Year High - Time to Buy?

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on SCR shares. National Bank Financial upgraded shares of Strathcona Resources to a "strong-buy" rating in a report on Sunday, June 29th. Royal Bank Of Canada boosted their target price on shares of Strathcona Resources from C$34.00 to C$36.00 in a report on Thursday, May 22nd. Cibc World Mkts cut shares of Strathcona Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Scotiabank upgraded shares of Strathcona Resources to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, CIBC dropped their price target on shares of Strathcona Resources from C$37.00 to C$33.00 in a research note on Thursday, April 10th. Six analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Strathcona Resources currently has an average rating of "Moderate Buy" and an average price target of C$34.86.

Strathcona Resources Stock Down 1.4%

The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06. The firm has a market cap of C$6.88 billion and a P/E ratio of 18.54. The company's 50 day simple moving average is C$29.99 and its 200-day simple moving average is C$28.32.

Strathcona Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Monday, June 23rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.20 annualized dividend and a yield of 3.73%. This is a boost from Strathcona Resources's previous quarterly dividend of $0.26. Strathcona Resources's dividend payout ratio is currently 57.67%.

Insider Activity

In related news, Senior Officer Pit Kim Chiu bought 1,665 shares of the stock in a transaction on Wednesday, June 11th. The shares were acquired at an average price of C$30.00 per share, for a total transaction of C$49,950.00. Also, Director Connie De Ciancio bought 4,293 shares of the stock in a transaction on Monday, July 14th. The shares were bought at an average price of C$32.50 per share, for a total transaction of C$139,522.50. Insiders have acquired a total of 6,783 shares of company stock worth $214,404 in the last 90 days. Company insiders own 91.34% of the company's stock.

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.