Shares of Strathcona Resources Ltd. (TSE:SCR - Get Free Report) dropped 1.1% during mid-day trading on Wednesday . The stock traded as low as C$29.02 and last traded at C$29.50. Approximately 59,288 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 47,370 shares. The stock had previously closed at C$29.83.
Analyst Upgrades and Downgrades
SCR has been the topic of several research reports. Scotiabank raised Strathcona Resources to a "strong-buy" rating in a report on Wednesday, March 19th. CIBC reduced their target price on Strathcona Resources from C$37.00 to C$33.00 in a report on Thursday, April 10th. Royal Bank of Canada lifted their target price on Strathcona Resources from C$34.00 to C$36.00 in a report on Thursday, May 22nd. Finally, TD Securities reduced their target price on Strathcona Resources from C$32.00 to C$29.00 and set a "hold" rating on the stock in a 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of C$35.29.
Get Our Latest Report on Strathcona Resources
Strathcona Resources Trading Down 1.1%
The company has a market cap of C$6.31 billion and a PE ratio of 17.01. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09. The company has a 50-day moving average of C$26.85 and a 200 day moving average of C$28.22.
Strathcona Resources Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 23rd will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.20 annualized dividend and a yield of 4.07%. This is a positive change from Strathcona Resources's previous quarterly dividend of $0.26. Strathcona Resources's dividend payout ratio (DPR) is currently 57.67%.
Insider Buying and Selling
In other Strathcona Resources news, Senior Officer Allan Grabas bought 8,802 shares of the company's stock in a transaction on Monday, March 10th. The stock was acquired at an average price of C$27.47 per share, for a total transaction of C$241,790.94. 91.34% of the stock is currently owned by company insiders.
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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