Strathcona Resources Ltd. (TSE:SCR - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$27.72 and traded as low as C$27.59. Strathcona Resources shares last traded at C$27.80, with a volume of 13,934 shares changing hands.
Analysts Set New Price Targets
A number of brokerages have recently commented on SCR. TD Securities cut their price target on Strathcona Resources from C$32.00 to C$29.00 and set a "hold" rating on the stock in a report on Thursday, March 6th. CIBC boosted their price target on Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. Jefferies Financial Group boosted their price target on Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. Scotiabank raised Strathcona Resources to a "strong-buy" rating in a research report on Wednesday. Finally, Atb Cap Markets downgraded Strathcona Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$35.50.
Check Out Our Latest Stock Report on Strathcona Resources
Strathcona Resources Trading Down 1.7 %
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 stock has a market cap of C$6.20 billion and a price-to-earnings ratio of 16.71. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09.
Strathcona Resources Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Friday, March 21st. This is an increase from Strathcona Resources's previous quarterly dividend of $0.25. Strathcona Resources's payout ratio is 57.67%.
Insiders Place Their Bets
In other Strathcona Resources news, Director Connie De Ciancio purchased 3,358 shares of the stock in a transaction on Tuesday, December 24th. The shares were purchased at an average price of C$28.77 per share, with a total value of C$96,609.66. Also, Senior Officer Allan Grabas acquired 8,802 shares of Strathcona Resources stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of C$27.47 per share, with a total value of C$241,790.94. Insiders have acquired a total of 18,850 shares of company stock valued at $548,769 over the last 90 days. 91.34% of the stock is currently owned by insiders.
About Strathcona Resources
(
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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.
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