Royal Bank of Canada Issues Positive Forecast for Strathcona Resources (TSE:SCR) Stock Price

Strathcona Resources (TSE:SCR) had its price target increased by Royal Bank of Canada from C$34.00 to C$36.00 in a research report released on Friday,BayStreet.CA reports.

Other equities analysts also recently issued research reports about the stock. TD Securities lifted their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday. Jefferies Financial Group dropped their price objective on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Finally, Scotiabank raised their target price on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Strathcona Resources currently has an average rating of “Moderate Buy” and a consensus price target of C$36.13.

Strathcona Resources Trading Down 0.9 %

TSE:SCR traded down C$0.29 during trading hours on Friday, hitting C$32.21. 51,340 shares of the company were exchanged, compared to its average volume of 40,266. The company has a fifty day simple moving average of C$28.01 and a 200 day simple moving average of C$30.61. Strathcona Resources has a one year low of C$20.16 and a one year high of C$37.69. The stock has a market capitalization of C$6.90 billion and a price-to-earnings ratio of 7.49. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29.

Strathcona Resources (TSE:SCR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C$1.43 EPS for the quarter. Strathcona Resources had a return on equity of 12.32% and a net margin of 11.62%. The company had revenue of C$992.90 million for the quarter, compared to analyst estimates of C$978.00 million. Sell-side analysts expect that Strathcona Resources will post 2.8494405 EPS for the current fiscal year.

Strathcona Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Monday, September 16th. Strathcona Resources’s dividend payout ratio (DPR) is currently 23.26%.

Insiders Place Their Bets

In other Strathcona Resources news, Director Navjeet Dhillon acquired 3,455 shares of the stock in a transaction on Monday, August 19th. The shares were purchased at an average price of C$31.75 per share, for a total transaction of C$109,696.25. Also, Senior Officer Scott Seipert bought 5,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of C$30.50 per share, for a total transaction of C$152,500.00. Over the last quarter, insiders have bought 11,455 shares of company stock worth $359,864. Corporate insiders own 91.34% of the company’s stock.

About Strathcona Resources

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.