Strathcona Resources (TSE:SCR) Given New C$35.00 Price Target at ATB Capital

Strathcona Resources (TSE:SCR) had its price target increased by ATB Capital from C$32.00 to C$35.00 in a report published on Tuesday morning,BayStreet.CA reports. ATB Capital currently has a sector perform rating on the stock.

Several other research analysts have also weighed in on SCR. Scotiabank raised Strathcona Resources to a “strong-buy” rating in a research report on Wednesday, March 19th. TD Securities dropped their price target on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Royal Bank Of Canada upped their price objective on Strathcona Resources from C$34.00 to C$36.00 in a report on Thursday, May 22nd. Finally, CIBC lowered their price objective on Strathcona Resources from C$37.00 to C$33.00 in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$34.86.

Strathcona Resources Stock Performance

Shares of SCR opened at C$31.25 on Tuesday. The stock has a market capitalization of C$6.68 billion and a price-to-earnings ratio of 18.02. Strathcona Resources has a 12 month low of C$22.75 and a 12 month high of C$33.93. The firm has a fifty day simple moving average of C$27.66 and a 200 day simple moving average of C$28.10. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06.

Strathcona Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 23rd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.84%. This is an increase from Strathcona Resources’s previous quarterly dividend of $0.26. Strathcona Resources’s dividend payout ratio is currently 57.67%.

Insiders Place Their Bets

In other Strathcona Resources news, Senior Officer Pit Kim Chiu bought 1,665 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were purchased at an average price of C$30.00 per share, for a total transaction of C$49,950.00. Corporate 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.