Strathcona Resources (TSE:SCR) Stock Crosses Below 50 Day Moving Average - Here's What Happened

Strathcona Resources Ltd. (TSE:SCR - Get Free Report) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$29.13 and traded as low as C$26.54. Strathcona Resources shares last traded at C$26.69, with a volume of 77,258 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SCR. Standpoint Research raised their target price on shares of Strathcona Resources from C$40.00 to C$42.00 in a research report on Thursday, July 11th. TD Securities lowered their price objective on shares of Strathcona Resources from C$34.00 to C$30.00 in a research note on Tuesday, October 1st. Royal Bank of Canada reduced their target price on Strathcona Resources from C$37.00 to C$34.00 in a report on Tuesday, September 17th. Finally, Jefferies Financial Group cut their target price on shares of Strathcona Resources from C$35.00 to C$30.00 and set a "hold" rating on the stock in a research note on Monday, September 16th. Four investment 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$34.25.

Strathcona Resources Price Performance

The firm has a market capitalization of C$5.76 billion and a P/E ratio of 6.25. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. The business's fifty day moving average is C$29.08 and its 200 day moving average is C$31.22.

Strathcona Resources (TSE:SCR - Get Free Report) last issued 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 business had revenue of C$992.90 million for the quarter, compared to the consensus estimate of C$978.00 million. As a group, analysts forecast that Strathcona Resources Ltd. will post 2.8494405 EPS for the current year.

Strathcona Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Monday, September 16th. Strathcona Resources's dividend payout ratio (DPR) is 23.26%.

Insiders Place Their Bets

In other news, Senior Officer Scott Seipert acquired 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of C$30.50 per share, for a total transaction of C$152,500.00. In related news, Senior Officer Scott Seipert bought 5,000 shares of the company's 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 bought 3,455 shares of the stock in a transaction dated Monday, August 19th. The stock was purchased at an average cost of C$31.75 per share, for a total transaction of C$109,696.25. Company 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.