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

Strathcona Resources Ltd. (TSE:SCR) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$41.84 and traded as high as C$41.97. Strathcona Resources shares last traded at C$41.97, with a volume of 891,653 shares trading hands.

Analyst Ratings Changes

SCR has been the topic of several research analyst reports. Jefferies Financial Group upgraded Strathcona Resources from a “hold” rating to a “buy” rating and increased their target price for the stock from C$45.00 to C$56.00 in a report on Thursday, June 4th. Royal Bank Of Canada upped their price target on shares of Strathcona Resources from C$36.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. National Bank Financial decreased their price objective on shares of Strathcona Resources from C$68.00 to C$66.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Finally, TD Securities upgraded shares of Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$43.00.

Strathcona Resources Trading Up 1.8%

The company has a current ratio of 0.39, a quick ratio of 11.09 and a debt-to-equity ratio of 50.35. The company has a market capitalization of C$9.11 billion, a P/E ratio of 12.25, a PEG ratio of -2.02 and a beta of 2.61. The business has a 50 day moving average price of C$41.73 and a 200 day moving average price of C$37.54.

Strathcona Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 17th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, June 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Strathcona Resources’s payout ratio is currently 34.58%.

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.