Strathcona Resources (TSE:SCR) Hits New 52-Week High - What's Next?

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.

Shares of Strathcona Resources Ltd. (TSE:SCR - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SCR. Royal Bank Of Canada lifted 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 upgraded shares of Strathcona Resources to a "strong-buy" rating in a research report on Sunday, June 29th. Cibc World Mkts downgraded shares of Strathcona Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. National Bankshares set a C$42.00 price target on shares of Strathcona Resources and gave the company an "outperform" rating in a research report on Monday, June 30th. Finally, ATB Capital raised 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. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Strathcona Resources has a consensus rating of "Moderate Buy" and an average target price of C$34.86.

Strathcona Resources Stock Performance

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 stock's 50 day moving average price is C$35.35 and its two-hundred day moving average price is C$30.46. The firm has a market capitalization of C$8.03 billion, a PE ratio of 11.25, a PEG ratio of -2.02 and a beta of 2.61.

Strathcona Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Monday, September 22nd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, September 12th. Strathcona Resources's payout ratio is presently 31.83%.

Insider Buying and Selling

In other news, Director Connie De Ciancio bought 4,293 shares of the stock in a transaction on Monday, July 14th. The stock was purchased at an average cost of C$32.50 per share, with a total value of C$139,522.50. Insiders own 91.34% of the company's stock.

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.