Strathcona Resources (TSE:SCR) Stock Price Up 4.6% - Time to Buy?

Key Points

• Shares rose 4.6% to C$40.54 during mid-day trading on Friday on much lighter-than-normal volume, leaving the stock trading well above the MarketBeat consensus price target of C$33.25.
• Analysts are mixed—three Buy and four Hold ratings with recent price targets ranging roughly C$25–C$40 and an overall average rating of "Hold".
• Strathcona declared a quarterly dividend of $0.30 per share payable March 27, representing an annualized $1.20 and a yield of 2.9% (DPR ~27%).

Strathcona Resources Ltd. (TSE:SCR - Get Free Report)'s stock price rose 4.6% during mid-day trading on Friday . The stock traded as high as C$40.56 and last traded at C$40.54. Approximately 40,392 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 356,393 shares. The stock had previously closed at C$38.74.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Roth Mkm set a C$40.00 price objective on shares of Strathcona Resources and gave the stock a "buy" rating in a research note on Tuesday, March 10th. TD Securities reduced their target price on shares of Strathcona Resources from C$27.00 to C$25.00 and set a "hold" rating for the company in a report on Friday, March 13th. Royal Bank Of Canada increased their price target on shares of Strathcona Resources from C$35.00 to C$36.00 and gave the stock a "sector perform" rating in a research report on Friday, March 13th. Jefferies Financial Group dropped their price target on shares of Strathcona Resources from C$29.00 to C$26.00 in a research note on Tuesday, January 20th. Finally, Scotiabank cut their price objective on shares of Strathcona Resources from C$40.00 to C$33.00 in a research report on Tuesday, December 30th. Three investment 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 has an average rating of "Hold" and a consensus price target 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 stock has a market cap of C$8.89 billion, a P/E ratio of 9.76, a P/E/G ratio of -2.02 and a beta of 2.61. The firm has a 50 day moving average price of C$31.11 and a 200 day moving average price of C$34.78.

Strathcona Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 27th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, March 20th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Strathcona Resources's dividend payout ratio (DPR) is presently 27.29%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.