Strathcona Resources (TSE:SCR) Reaches New 12-Month High – Time to Buy?

Strathcona Resources Ltd. (TSE:SCR) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$44.24 and last traded at C$44.20, with a volume of 258802 shares trading hands. The stock had previously closed at C$42.68.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Roth Mkm set a C$40.00 price target on shares of Strathcona Resources and gave the company a “buy” rating in a research report on Tuesday, March 10th. Jefferies Financial Group decreased their price target on shares of Strathcona Resources from C$29.00 to C$26.00 in a research report on Tuesday, January 20th. National Bank Financial upped their price target on shares of Strathcona Resources from C$41.00 to C$69.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. TD Securities upgraded shares of Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Finally, Royal Bank Of Canada upped their price target on shares of Strathcona Resources from C$36.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Strathcona Resources presently has an average rating of “Moderate Buy” and an average price target of C$39.14.

Strathcona Resources Stock Performance

The stock’s 50 day moving average price is C$37.22 and its 200 day moving average price is C$35.22. The company has a debt-to-equity ratio of 49.94, a quick ratio of 11.09 and a current ratio of 0.37. The company has a market capitalization of C$9.57 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of -2.02 and a beta of 2.61.

Strathcona Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 27th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, March 20th. Strathcona Resources’s dividend payout ratio is currently 27.29%.

Strathcona Resources Company Profile

Strathcona is one of North America’s fastest growing pure play heavy oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life assets. The Company has three operations, including Cold Lake, Lloydminster Thermal and Lloydminster Conventional. Strathcona is a major producer in the Cold Lake region of Alberta. Our operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from best-in-class steam-assisted gravity drainage (SAGD) oil assets.