Shares of Strathcona Resources Ltd. (TSE:SCR - Get Free Report) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$26.74 and traded as low as C$25.70. Strathcona Resources shares last traded at C$25.81, with a volume of 35,849 shares traded.
Analyst Ratings Changes
A number of research analysts recently commented on SCR shares. Royal Bank of Canada cut their target price on Strathcona Resources from C$35.00 to C$34.00 and set a "sector perform" rating for the company in a research note on Thursday, March 6th. CIBC dropped their price objective on shares of Strathcona Resources from C$37.00 to C$33.00 in a research note on Thursday, April 10th. Scotiabank upgraded shares of Strathcona Resources to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, TD Securities dropped their price target on shares of Strathcona Resources from C$32.00 to C$29.00 and set a "hold" rating for the company in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of C$35.00.
Check Out Our Latest Report on Strathcona Resources
Strathcona Resources Stock Performance
The stock has a market capitalization of C$5.43 billion and a price-to-earnings ratio of 14.65. The stock's 50-day simple moving average is C$26.64 and its 200 day simple moving average is C$28.33. 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 Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.04 dividend on an annualized basis and a yield of 4.09%. This is a positive change from Strathcona Resources's previous quarterly dividend of $0.25. Strathcona Resources's payout ratio is currently 57.67%.
Insider Transactions at Strathcona Resources
In related news, Senior Officer Allan Grabas purchased 8,802 shares of Strathcona Resources stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of C$27.47 per share, for a total transaction of C$241,790.94. Company insiders own 91.34% of the company's stock.
About Strathcona Resources
(
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Strathcona Resources Ltd. acquires, explores, develops, and produces petroleum and natural gas reserves in Canada. It operates through three segments: Cold Lake Thermal, Lloydminster Heavy Oil, and Montney. The Cold Lake Thermal segment includes three producing assets in the Cold Lake region of Northern Alberta; and Lindbergh, Orion, and Tucker.
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