Strathcona Resources (TSE:SCR) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Strathcona Resources Ltd. (TSE:SCR)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$29.65 and traded as low as C$28.81. Strathcona Resources shares last traded at C$29.45, with a volume of 552,343 shares changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. National Bank Financial raised Strathcona Resources from a “hold” rating to an “outperform” rating and decreased their price target for the stock from C$36.00 to C$32.00 in a research note on Friday, January 9th. Royal Bank Of Canada decreased their target price on shares of Strathcona Resources from C$40.00 to C$35.00 and set a “moderate buy” rating on the stock in a research report on Tuesday, January 13th. Scotiabank dropped their price target on shares of Strathcona Resources from C$40.00 to C$33.00 in a research report on Tuesday, December 30th. ATB Cormark Capital Markets cut their price target on shares of Strathcona Resources from C$42.00 to C$32.00 in a research note on Tuesday, December 23rd. Finally, Jefferies Financial Group lowered their price objective on shares of Strathcona Resources from C$29.00 to C$26.00 in a research note on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$32.43.

Strathcona Resources Trading Up 2.9%

The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09. The business’s 50-day simple moving average is C$29.65 and its two-hundred day simple moving average is C$35.15. The stock has a market capitalization of C$6.31 billion, a price-to-earnings ratio of 5.75, a PEG ratio of -2.02 and a beta of 2.61.

Strathcona Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, December 5th. Strathcona Resources’s dividend payout ratio is 21.68%.

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. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties.