ATB Capital Boosts Strathcona Resources (TSE:SCR) Price Target to C$38.00

Strathcona Resources (TSE:SCR - Free Report) had its price objective raised by ATB Capital from C$37.00 to C$38.00 in a report issued on Friday morning,BayStreet.CA reports.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada boosted their target price on Strathcona Resources from C$34.00 to C$36.00 in a research note on Friday. TD Securities increased their price objective on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Scotiabank upped their price target on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday. Finally, Jefferies Financial Group decreased their target price on shares of Strathcona Resources from C$35.00 to C$30.00 and set a "hold" rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$36.13.

Strathcona Resources Stock Down 0.9 %

Shares of Strathcona Resources stock traded down C$0.29 on Friday, hitting C$32.21. The company had a trading volume of 51,340 shares, compared to its average volume of 40,266. The stock has a 50 day moving average of C$28.01 and a 200-day moving average of C$30.61. Strathcona Resources has a 1 year low of C$20.16 and a 1 year high of C$37.69. The stock has a market capitalization of C$6.90 billion and a price-to-earnings ratio of 7.49. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53.

Strathcona Resources (TSE:SCR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share for the quarter. Strathcona Resources had a return on equity of 12.32% and a net margin of 11.62%. The company had revenue of C$992.90 million during the quarter, compared to the consensus estimate of C$978.00 million. As a group, sell-side analysts forecast that Strathcona Resources will post 2.8494405 earnings per share for the current year.

Strathcona Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a $0.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 3.10%. Strathcona Resources's dividend payout ratio (DPR) is 23.26%.

Insider Activity at Strathcona Resources

In other Strathcona Resources news, Senior Officer Scott Seipert bought 5,000 shares of Strathcona Resources stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of C$30.50 per share, with a total value of C$152,500.00. Also, Director Navjeet Dhillon purchased 3,455 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average cost of C$31.75 per share, for a total transaction of C$109,696.25. Insiders have acquired 11,455 shares of company stock valued at $359,864 in the last ninety days. Corporate insiders own 91.34% of the company's stock.

About Strathcona Resources

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.