Strathcona Resources (TSE:SCR) Shares Pass Below Fifty Day Moving Average - Here's Why

Strathcona Resources Ltd. (TSE:SCR - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$28.45 and traded as low as C$27.29. Strathcona Resources shares last traded at C$28.07, with a volume of 11,466 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SCR shares. 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. Royal Bank of Canada reduced their target price on Strathcona Resources from C$37.00 to C$34.00 in a research report on Tuesday, September 17th. TD Securities cut their price target on shares of Strathcona Resources from C$34.00 to C$30.00 in a research note on Tuesday, October 1st. Finally, Jefferies Financial Group cut their target price on Strathcona Resources from C$35.00 to C$30.00 and set a "hold" rating on the stock in a research report 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$34.25.

Strathcona Resources Trading Down 2.0 %

The firm has a market capitalization of C$5.90 billion and a PE ratio of 6.37. The firm has a fifty day moving average of C$28.45 and a 200 day moving average of C$30.95. 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 announced its earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share for the quarter. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. The business had revenue of C$992.90 million during the quarter, compared to the consensus estimate of C$978.00 million. Equities research analysts expect that Strathcona Resources Ltd. will post 2.8494405 EPS for the current year.

Strathcona Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, September 16th. Strathcona Resources's payout ratio is 23.26%.

Insider Transactions at Strathcona Resources

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