Strathcona Resources (TSE:SCR) Reaches New 1-Year High - Here's Why

Key Points

• Strathcona Resources shares hit a new 52-week high of C$39.49 during trading, closing at C$39.26, indicating strong market performance.
• Analysts have set varying price targets with National Bank forecasting C$42.00, while CIBC downgraded its rating to "hold," reflecting mixed sentiments among analysts.
• The company announced a quarterly dividend of $0.30 per share, providing a 3.1% yield and enhancing returns for investors.

Strathcona Resources Ltd. (TSE:SCR - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$39.49 and last traded at C$39.26, with a volume of 21654 shares changing hands. The stock had previously closed at C$38.31.

Analysts Set New Price Targets

SCR has been the topic of several recent analyst reports. Cibc World Mkts downgraded shares of Strathcona Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. ATB Capital increased their target price on shares of Strathcona Resources from C$32.00 to C$35.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. Royal Bank Of Canada increased their target price on shares of Strathcona Resources from C$34.00 to C$36.00 in a research report on Thursday, May 22nd. National Bankshares set a C$42.00 target price on shares of Strathcona Resources and gave the company an "outperform" rating in a research report on Monday, June 30th. Finally, National Bank Financial upgraded shares of Strathcona Resources to a "strong-buy" rating in a research report on Sunday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$34.86.

Strathcona Resources Trading Up 1.4%

The business's 50-day simple moving average is C$34.73 and its two-hundred day simple moving average is C$30.17. The firm has a market capitalization of C$8.33 billion, a price-to-earnings ratio of 11.67, a PEG ratio of -2.02 and a beta of 2.61. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, September 12th. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. Strathcona Resources's dividend payout ratio is 31.83%.

Insider Buying and Selling

In other Strathcona Resources news, Director Connie De Ciancio bought 4,293 shares of Strathcona Resources stock in a transaction on Monday, July 14th. The shares were bought 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 bought 1,665 shares of Strathcona Resources 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. Over the last quarter, insiders have acquired 6,783 shares of company stock worth $214,404. 91.34% of the stock is owned by company 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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