Strathcona Resources (TSE:SCR) Reaches New 52-Week High - Here's Why

Key Points

• Strathcona Resources (TSE:SCR) reached a new 52-week high with shares trading at C$39.16, currently at C$37.77, indicating increased investor interest.
• The company recently announced a quarterly dividend of $0.30 per share, reflecting a yield of 3.2% and an annualized dividend of $1.20.
• Analysts have mixed ratings on the stock, with Royal Bank of Canada increasing the price target to C$36.00 and National Bank setting a target of C$42.00, recommending an "outperform" rating.

Strathcona Resources Ltd. (TSE:SCR - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as C$39.16 and last traded at C$37.77, with a volume of 44360 shares. The stock had previously closed at C$38.92.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. National Bank Financial raised Strathcona Resources to a "strong-buy" rating in a research report on Sunday, June 29th. Cibc World Mkts cut Strathcona Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada raised their price objective on 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 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. Finally, 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. Two research 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 presently has a consensus rating of "Moderate Buy" and an average price target of C$34.86.

Strathcona Resources Price Performance

The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53. The business has a 50 day moving average price of C$33.48 and a 200-day moving average price of C$29.52. The company has a market capitalization of C$8.17 billion and a price-to-earnings ratio of 22.03.

Strathcona Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 12th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.1%. Strathcona Resources's dividend payout ratio (DPR) is presently 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 the stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price 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 worth $214,404 over the last 90 days. Company 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.