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

Strathcona Resources Ltd. (TSE:SCR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$33.57 and last traded at C$33.57, with a volume of 43304 shares traded. The stock had previously closed at C$32.57.

Analyst Ratings Changes

A number of research firms have weighed in on SCR. CIBC cut their target price 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 price objective on shares of Strathcona Resources and gave the company an "outperform" rating in a research report 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 report on Thursday, May 22nd. National Bank Financial raised shares of Strathcona Resources to a "strong-buy" rating in a research note on Sunday, June 29th. Finally, ATB Capital upped their price objective on shares of Strathcona Resources from C$32.00 to C$35.00 and gave the stock 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$34.86.

Strathcona Resources Trading Down 2.0%

The company's fifty day simple moving average is C$30.69 and its two-hundred day simple moving average is C$28.40. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06. The company has a market capitalization of C$7.13 billion and a price-to-earnings ratio of 19.22.

Strathcona Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 23rd were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.60%. This is a positive change from Strathcona Resources's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, June 13th. Strathcona Resources's dividend payout ratio (DPR) is presently 57.67%.

Insiders Place Their Bets

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