Strathcona Resources (TSE:SCR) Price Target Raised to C$37.00 at CIBC

Strathcona Resources (TSE:SCR - Free Report) had its price objective boosted by CIBC from C$35.00 to C$37.00 in a research note issued to investors on Friday,BayStreet.CA reports.

SCR has been the subject of several other reports. ATB Capital raised their target price on Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. Atb Cap Markets lowered Strathcona Resources from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. TD Securities increased their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. Jefferies Financial Group boosted their price target on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. Finally, Scotiabank increased their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$35.88.

Strathcona Resources Trading Up 0.2 %

TSE SCR traded up C$0.05 on Friday, hitting C$29.40. The company's stock had a trading volume of 25,509 shares, compared to its average volume of 28,431. The company's 50-day moving average is C$30.47 and its 200 day moving average is C$29.89. The firm has a market cap of C$6.30 billion and a PE ratio of 6.84. Strathcona Resources has a 1-year low of C$22.45 and a 1-year high of C$37.69. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29.

Strathcona Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Monday, December 16th. Strathcona Resources's dividend payout ratio is presently 23.26%.

Insider Buying and Selling at Strathcona Resources

In other news, Director Connie De Ciancio bought 3,358 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The shares were bought at an average cost of C$28.77 per share, for a total transaction of C$96,609.66. Also, Senior Officer Pit Kim Chiu purchased 1,600 shares of the firm's stock in a transaction on Friday, December 20th. The shares were acquired at an average price of C$28.05 per share, with a total value of C$44,887.04. Over the last ninety days, insiders purchased 14,648 shares of company stock valued at $449,533. Corporate insiders own 91.34% of the company's stock.

Strathcona Resources Company Profile

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.