Strathcona Resources Ltd. (TSE:SCR) Increases Dividend to $0.26 Per Share

Strathcona Resources Ltd. (TSE:SCR - Get Free Report) announced a quarterly dividend on Friday, March 21st, TickerTech Dividends reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.26 per share on Monday, March 31st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Friday, March 21st. This is a 4.0% increase from Strathcona Resources's previous quarterly dividend of $0.25.

Strathcona Resources Stock Performance

Shares of SCR traded down C$0.51 during mid-day trading on Friday, reaching C$28.97. The company's stock had a trading volume of 14,904 shares, compared to its average volume of 46,523. Strathcona Resources has a 1-year low of C$22.75 and a 1-year high of C$37.69. The stock has a market cap of C$6.20 billion and a P/E ratio of 16.71. The business has a 50-day simple moving average of C$27.59 and a two-hundred day simple moving average of C$28.62. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06.

Analysts Set New Price Targets

Several analysts recently weighed in on SCR shares. TD Securities dropped their price target on Strathcona Resources from C$32.00 to C$29.00 and set a "hold" rating for the company in a report on Thursday, March 6th. Jefferies Financial Group lifted their target price on Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. CIBC upped their price target on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, January 17th. Scotiabank raised shares of Strathcona Resources to a "strong-buy" rating in a research report on Wednesday. Finally, Atb Cap Markets lowered shares of Strathcona Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$35.50.

Remove Ads

Insider Buying and Selling

In other news, Senior Officer Allan Grabas acquired 8,802 shares of Strathcona Resources stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of C$27.47 per share, for a total transaction of C$241,790.94. Also, Senior Officer Dale George Babiak acquired 6,410 shares of Strathcona Resources stock in a transaction on Monday, January 13th. The shares were purchased at an average price of C$31.50 per share, for a total transaction of C$201,915.00. Over the last three months, insiders have acquired 18,850 shares of company stock valued at $548,769. 91.34% of the stock is owned by company insiders.

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.