ATB Capital Forecasts Strong Price Appreciation for Strathcona Resources (TSE:SCR) Stock

Strathcona Resources (TSE:SCR) had its target price upped by ATB Capital from C$37.00 to C$38.00 in a report published on Friday,BayStreet.CA reports.

Several other research analysts also recently commented on the stock. Royal Bank of Canada raised their price target on shares of Strathcona Resources from C$34.00 to C$36.00 in a research note on Friday. Jefferies Financial Group decreased their price target on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a research note on Monday, September 16th. TD Securities boosted their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Finally, Scotiabank increased their price objective on Strathcona Resources from C$35.00 to C$37.00 in a report on Friday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$36.13.

Strathcona Resources Trading Down 0.9 %

TSE SCR traded down C$0.29 during trading on Friday, hitting C$32.21. The stock had a trading volume of 51,340 shares, compared to its average volume of 40,266. The stock has a market capitalization of C$6.90 billion and a price-to-earnings ratio of 7.49. The stock has a 50 day simple moving average of C$28.01 and a 200 day simple moving average of C$30.61. Strathcona Resources has a one year low of C$20.16 and a one year high of C$37.69. 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) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C$1.43 earnings per share (EPS) for the quarter. Strathcona Resources had a return on equity of 12.32% and a net margin of 11.62%. The company had revenue of C$992.90 million during the quarter, compared to analysts’ expectations of C$978.00 million. Sell-side analysts predict that Strathcona Resources will post 2.8494405 earnings per share for the current year.

Strathcona Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a $0.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.00 annualized dividend and a yield of 3.10%. Strathcona Resources’s dividend payout ratio is presently 23.26%.

Insider Activity at Strathcona Resources

In related news, Senior Officer Scott Seipert purchased 5,000 shares of Strathcona Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of C$30.50 per share, for a total transaction of C$152,500.00. Also, Director Navjeet Dhillon bought 3,455 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was purchased at an average price of C$31.75 per share, for a total transaction of C$109,696.25. Over the last quarter, insiders have bought 11,455 shares of company stock worth $359,864. 91.34% of the stock is owned by company insiders.

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.