Strathcona Resources (TSE:SCR) Stock Price Up 4.6% – What’s Next?

Strathcona Resources Ltd. (TSE:SCR) was up 4.6% during mid-day trading on Friday . The company traded as high as C$40.56 and last traded at C$40.54. Approximately 40,392 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 356,393 shares. The stock had previously closed at C$38.74.

Analyst Upgrades and Downgrades

SCR has been the topic of a number of analyst reports. ATB Cormark Capital Markets lowered their target price on shares of Strathcona Resources from C$42.00 to C$32.00 in a research note on Tuesday, December 23rd. Roth Mkm set a C$40.00 price target on Strathcona Resources and gave the stock a “buy” rating in a research note on Tuesday, March 10th. National Bank Financial raised their price target on Strathcona Resources from C$32.00 to C$41.00 and gave the company an “outperform” rating in a report on Friday, March 13th. Scotiabank lowered their price objective on Strathcona Resources from C$40.00 to C$33.00 in a research report on Tuesday, December 30th. Finally, Royal Bank Of Canada upped their price objective on Strathcona Resources from C$35.00 to C$36.00 and gave the stock a “sector perform” rating in a research note on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$33.25.

Strathcona Resources Price Performance

The stock has a market cap of C$8.89 billion, a PE ratio of 9.76, a P/E/G ratio of -2.02 and a beta of 2.61. The firm’s fifty day moving average price is C$31.11 and its 200 day moving average price is C$34.78. The company has a quick ratio of 11.09, a current ratio of 0.37 and a debt-to-equity ratio of 49.94.

Strathcona Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 27th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, March 20th. Strathcona Resources’s dividend payout ratio is 27.29%.

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.