Strathcona Resources (TSE:SCR) Sets New 1-Year High - What's Next?

Key Points

• Strathcona Resources' stock reached a new 52-week high of C$34.41 during trading and last traded at C$34.24, marking a significant rise from its previous close of C$33.40.
• The company announced an increase in its quarterly dividend to $0.30, up from $0.26, representing an annualized dividend yield of 3.48%.
• Analysts have mixed outlooks on the stock, with a consensus rating of "Moderate Buy" and an average price target of C$34.86, reflecting differing views on its growth potential.

Strathcona Resources Ltd. (TSE:SCR - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as C$34.41 and last traded at C$34.24, with a volume of 25231 shares changing hands. The stock had previously closed at C$33.40.

Wall Street Analysts Forecast Growth

SCR has been the subject of a number of research analyst reports. Cibc World Mkts cut shares of Strathcona Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada lifted their price objective on shares of Strathcona Resources from C$34.00 to C$36.00 in a research report on Thursday, May 22nd. ATB Capital lifted 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 report on Tuesday, June 17th. National Bankshares set a C$42.00 price objective on shares of Strathcona Resources and gave the stock an "outperform" rating in a research report on Monday, June 30th. Finally, National Bank Financial raised shares of Strathcona Resources to a "strong-buy" rating in a research report on Sunday, June 29th. Six analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Strathcona Resources currently has an average rating of "Moderate Buy" and a consensus price target of C$34.86.

Strathcona Resources Trading Down 2.5%

The business's fifty day moving average is C$31.20 and its 200-day moving average is C$28.51. The firm has a market cap of C$7.10 billion and a P/E ratio of 19.13. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53.

Strathcona Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Monday, June 23rd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.6%. This is a boost from Strathcona Resources's previous quarterly dividend of $0.26. Strathcona Resources's payout ratio is currently 57.67%.

Insider Buying and Selling

In related news, Director Connie De Ciancio acquired 4,293 shares of Strathcona Resources stock in a transaction dated Monday, July 14th. The stock was bought at an average price of C$32.50 per share, with a total value of C$139,522.50. Also, Senior Officer Pit Kim Chiu acquired 1,665 shares of Strathcona Resources stock in a transaction dated Wednesday, June 11th. The shares were bought at an average cost of C$30.00 per share, with a total value of C$49,950.00. Insiders have acquired a total of 6,783 shares of company stock valued at $214,404 in the last three months. 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.