Strathcona Resources (TSE:SCR) Reaches New 12-Month High - Time to Buy?

Key Points

• Shares hit a new 52-week high, trading as high as C$40.43 intraday and last at C$39.77 on volume of 262,244 shares, up from a prior close of C$39.29.
• Analyst sentiment is mixed — three analysts rate the stock Buy and four rate it Hold, leaving an average rating of "Hold" and an average target price of C$33.25, well below the current share price.
• Company yields and fundamentals: Strathcona declared a quarterly dividend of $0.30 (annualized $1.20, 3.0% yield; ex-dividend March 20), has a market cap of C$8.51B, a P/E of 7.75 and a beta of 2.61.

Strathcona Resources Ltd. (TSE:SCR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$40.43 and last traded at C$39.77, with a volume of 262244 shares traded. The stock had previously closed at C$39.29.

Analyst Upgrades and Downgrades

SCR has been the topic of several analyst reports. Roth Mkm set a C$40.00 price target on shares of Strathcona Resources and gave the stock a "buy" rating in a report on Tuesday, March 10th. Royal Bank Of Canada increased their price target on Strathcona Resources from C$35.00 to C$36.00 and gave the company a "sector perform" rating in a research note on Friday, March 13th. Jefferies Financial Group dropped their price target on Strathcona Resources from C$29.00 to C$26.00 in a research note on Tuesday, January 20th. TD Securities dropped their target price on Strathcona Resources from C$27.00 to C$25.00 and set a "hold" rating on the stock in a research report on Friday, March 13th. Finally, ATB Cormark Capital Markets dropped their price objective on shares of Strathcona Resources from C$42.00 to C$32.00 in a report on Tuesday, December 23rd. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Strathcona Resources presently has an average rating of "Hold" and an average target price of C$33.25.

Strathcona Resources Price Performance

The company has a quick ratio of 11.09, a current ratio of 0.37 and a debt-to-equity ratio of 49.94. The company has a market capitalization of C$8.51 billion, a price-to-earnings ratio of 7.75, a PEG ratio of -2.02 and a beta of 2.61. The stock's 50-day simple moving average is C$29.65 and its two-hundred day simple moving average is C$34.74.

Strathcona Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 27th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, March 20th. Strathcona Resources's payout ratio is presently 21.68%.

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. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties.

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