Strathcona Resources (TSE:SCR) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Shares of Strathcona Resources Ltd. (TSE:SCR) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$28.45 and traded as low as C$27.29. Strathcona Resources shares last traded at C$28.07, with a volume of 11,466 shares.

Analyst Ratings Changes

A number of analysts have recently commented on SCR shares. Royal Bank of Canada reduced their price target on shares of Strathcona Resources from C$37.00 to C$34.00 in a research note on Tuesday, September 17th. Jefferies Financial Group reduced their price target on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a research note on Monday, September 16th. Standpoint Research lifted their price target on shares of Strathcona Resources from C$40.00 to C$42.00 in a research note on Thursday, July 11th. Finally, TD Securities reduced their price target on shares of Strathcona Resources from C$34.00 to C$30.00 in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Strathcona Resources has an average rating of “Moderate Buy” and a consensus target price of C$34.25.

Strathcona Resources Price Performance

The firm’s 50-day moving average is C$28.38 and its 200-day moving average is C$30.90. The company has a debt-to-equity ratio of 50.29, a current ratio of 0.53 and a quick ratio of 11.09. The company has a market capitalization of C$5.83 billion and a P/E ratio of 6.40.

Strathcona Resources (TSE:SCR) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share for the quarter. The business had revenue of C$992.90 million during the quarter, compared to analyst estimates of C$978.00 million. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. Analysts predict that Strathcona Resources Ltd. will post 2.8494405 EPS for the current fiscal year.

Strathcona Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. Strathcona Resources’s payout ratio is currently 23.26%.

Insider Transactions at Strathcona Resources

In related news, Director Navjeet Dhillon bought 3,455 shares of the stock in a transaction dated Monday, August 19th. The shares were purchased at an average price of C$31.75 per share, with a total value of C$109,696.25. In related news, Senior Officer Scott Seipert bought 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of C$30.50 per share, with a total value of C$152,500.00. Also, Director Navjeet Dhillon bought 3,455 shares of the stock in a transaction dated Monday, August 19th. The stock was bought at an average cost of C$31.75 per share, for a total transaction of C$109,696.25. Insiders own 91.34% of the company’s stock.

Strathcona Resources Company Profile

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.