Strathcona Resources (TSE:SCR) Shares Pass Below 50 Day Moving Average – Time to Sell?

Strathcona Resources Ltd. (TSE:SCR)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 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.

Wall Street Analyst Weigh In

SCR has been the topic of several analyst reports. Atb Cap Markets downgraded shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Jefferies Financial Group lifted their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. Royal Bank of Canada reduced their price objective on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 6th. TD Securities reduced their price target on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Finally, CIBC increased their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, January 17th. 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’s stock. According to MarketBeat.com, Strathcona Resources has a consensus rating of “Moderate Buy” and an average price target of C$35.50.

Strathcona Resources Stock Up 1.0 %

The firm has a market capitalization of C$5.95 billion and a P/E ratio of 16.03. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53. The business’s fifty day moving average price is C$27.72 and its two-hundred day moving average price is C$28.66.

Strathcona Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.26 dividend. This is a boost from Strathcona Resources’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Friday, March 21st. Strathcona Resources’s dividend payout ratio (DPR) is currently 57.67%.

Insider Activity at Strathcona Resources

In related news, Senior Officer Pit Kim Chiu purchased 1,600 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of C$28.05 per share, with a total value of C$44,887.04. Also, Director Connie De Ciancio bought 3,358 shares of the stock in a transaction on Tuesday, December 24th. The shares were acquired at an average cost of C$28.77 per share, for a total transaction of C$96,609.66. Insiders purchased 20,450 shares of company stock valued at $593,656 in the last three months. 91.34% of the stock is owned by 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.