Strathcona Resources (TSE:SCR) Trading Down 1.6% - Here's Why

Key Points

• Strathcona Resources shares fell by 1.6% during trading, with the stock closing at C$35.77 after hitting a low of C$35.50.
• Analysts have mixed ratings for Strathcona Resources, with one report downgrading the stock to a "hold" while others have increased price targets, reflecting a generally cautious outlook.
• The company recently announced a quarterly dividend of $0.30 per share, translating to an annualized yield of 3.4% and a payout ratio of 31.83%.

Strathcona Resources Ltd. (TSE:SCR - Get Free Report) shares were down 1.6% during trading on Thursday . The company traded as low as C$35.50 and last traded at C$35.77. Approximately 100,373 shares were traded during mid-day trading, an increase of 45% from the average daily volume of 69,115 shares. The stock had previously closed at C$36.34.

Wall Street Analyst Weigh In

SCR has been the subject of a number of analyst reports. Cibc World Mkts cut Strathcona Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. National Bank Financial raised Strathcona Resources to a "strong-buy" rating in a report on Sunday, June 29th. TD Securities upped their price target on Strathcona Resources from C$27.00 to C$35.00 and gave the stock a "hold" rating in a report on Thursday. Royal Bank Of Canada upped their price target on Strathcona Resources from C$36.00 to C$40.00 and gave the stock a "sector perform" rating in a report on Thursday. Finally, National Bankshares cut Strathcona Resources from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from C$42.00 to C$38.00 in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of C$36.14.

Strathcona Resources Stock Down 1.6%

The business has a fifty day simple moving average of C$37.11 and a 200 day simple moving average of C$31.95. The firm has a market cap of C$7.66 billion, a price-to-earnings ratio of 10.74, a PEG ratio of -2.02 and a beta of 2.61. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09.

Strathcona Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Monday, September 22nd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.4%. Strathcona Resources's dividend payout ratio is presently 31.83%.

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.

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