Strathcona Resources (TSE:SCR) Trading Down 3.1% - What's Next?

Key Points

• Strathcona Resources Ltd. (TSE:SCR) saw its stock price drop by 3.1%, closing at C$32.97 after trading as low as C$32.77.
• The company recently increased its quarterly dividend from $0.26 to $0.30 per share, representing a 3.6% yield.
• Analysts have mixed views on the stock, with price targets ranging from C$33.00 to C$42.00, and a consensus rating of "Moderate Buy."

Strathcona Resources Ltd. (TSE:SCR - Get Free Report) traded down 3.1% on Monday . The stock traded as low as C$32.77 and last traded at C$32.97. 61,190 shares were traded during trading, an increase of 14% from the average session volume of 53,514 shares. The stock had previously closed at C$34.02.

Analysts Set New Price Targets

A number of analysts have issued reports on SCR shares. National Bank Financial raised Strathcona Resources to a "strong-buy" rating in a research note on Sunday, June 29th. National Bankshares set a C$42.00 target price on shares of Strathcona Resources and gave the stock an "outperform" rating in a research report on Monday, June 30th. CIBC dropped their price target on shares of Strathcona Resources from C$37.00 to C$33.00 in a research report on Thursday, April 10th. Cibc World Mkts downgraded shares of Strathcona Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, Royal Bank Of Canada lifted their price target on shares of Strathcona Resources from C$34.00 to C$36.00 in a report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$34.86.

Strathcona Resources Stock Down 3.1%

The firm's fifty day moving average is C$31.36 and its two-hundred day moving average is C$28.53. The firm has a market cap of C$7.05 billion and a price-to-earnings ratio of 19.02. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 23rd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 13th. This is a positive change from Strathcona Resources's previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a yield of 3.6%. Strathcona Resources's dividend payout ratio is presently 57.67%.

Insider Activity at Strathcona Resources

In other news, Director Connie De Ciancio acquired 4,293 shares of the company's stock in a transaction dated Monday, July 14th. The shares were 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 acquired at an average cost of C$30.00 per share, for a total transaction of C$49,950.00. In the last three months, insiders have purchased 6,783 shares of company stock worth $214,404. 91.34% of the stock is owned by corporate insiders.

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.

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