Strathcona Resources (TSE:SCR) Stock Passes Below 50-Day Moving Average – Here’s Why

Strathcona Resources Ltd. (TSE:SCR)’s stock price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$29.74 and traded as low as C$26.98. Strathcona Resources shares last traded at C$27.31, with a volume of 25,904 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SCR shares. TD Securities lifted their target price on Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. Atb Cap Markets downgraded Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. CIBC upped their target price on Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, January 17th. ATB Capital raised their price target on shares of Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. Finally, Scotiabank upped their price target on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, November 15th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Strathcona Resources has an average rating of “Moderate Buy” and a consensus target price of C$35.88.

Strathcona Resources Stock Performance

The firm has a market capitalization of C$5.85 billion and a price-to-earnings ratio of 6.35. The company has a 50-day moving average of C$29.74 and a 200-day moving average of C$29.58. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a $0.25 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.66%. Strathcona Resources’s payout ratio is currently 23.26%.

Insider Activity

In other news, Director Navjeet Dhillon acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of C$32.56 per share, with a total value of C$97,668.00. Also, Senior Officer Dale George Babiak acquired 6,410 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was purchased at an average price of C$31.50 per share, for a total transaction of C$201,915.00. In the last three months, insiders acquired 14,648 shares of company stock valued at $449,533. Company 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.