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

Key Points

• Strathcona Resources shares reached a new 52-week high at C$37.20, reflecting investor interest with a recent trading volume of 7,247 shares.
• Brokerages have given mixed ratings, with National Bank Financial upgrading the stock to a "strong-buy" while others have set target prices ranging from C$34.00 to C$42.00.
• The company announced a quarterly dividend of $0.30 per share, yielding approximately 3.2%, set to be paid on September 22nd.

Strathcona Resources Ltd. (TSE:SCR - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as C$37.20 and last traded at C$37.18, with a volume of 7247 shares changing hands. The stock had previously closed at C$36.83.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SCR. Royal Bank Of Canada raised their target price on shares of Strathcona Resources from C$34.00 to C$36.00 in a report on Thursday, May 22nd. ATB Capital raised their target price on shares of Strathcona Resources from C$32.00 to C$35.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. National Bank Financial upgraded shares of Strathcona Resources to a "strong-buy" rating in a report on Sunday, June 29th. Cibc World Mkts cut shares of Strathcona Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Finally, National Bankshares set a C$42.00 price target on shares of Strathcona Resources and gave the stock an "outperform" rating in a research note on Monday, June 30th. Six 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$34.86.

Strathcona Resources Price Performance

The stock has a market cap of C$8.11 billion and a price-to-earnings ratio of 21.88. The stock's 50 day moving average price is C$32.37 and its two-hundred day moving average price is C$28.94. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06.

Strathcona Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 12th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. Strathcona Resources's dividend payout ratio (DPR) is presently 57.67%.

Insider Activity

In other Strathcona Resources news, Senior Officer Pit Kim Chiu purchased 1,665 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average cost of C$30.00 per share, with a total value of C$49,950.00. Also, Director Connie De Ciancio purchased 4,293 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was acquired at an average cost of C$32.50 per share, for a total transaction of C$139,522.50. In the last quarter, insiders bought 6,783 shares of company stock worth $214,404. 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.

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