Strathcona Resources (TSE:SCR – Free Report) had its price objective upped by Scotiabank from C$34.00 to C$40.00 in a research note released on Tuesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.
Other analysts have also recently issued research reports about the stock. ATB Capital increased their price target on shares of Strathcona Resources from C$32.00 to C$35.00 and gave the company a “sector perform” rating in a research note on Tuesday, June 17th. National Bankshares cut shares of Strathcona Resources from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$42.00 to C$38.00 in a research report on Tuesday. National Bank Financial raised shares of Strathcona Resources to a “strong-buy” rating in a research report on Sunday, June 29th. Finally, Cibc World Mkts cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$34.71.
Check Out Our Latest Stock Analysis on SCR
Strathcona Resources Stock Performance
Strathcona Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Monday, September 22nd were issued a dividend of $0.30 per share. The ex-dividend date was Friday, September 12th. This represents a $1.20 dividend on an annualized basis and a yield of 3.3%. Strathcona Resources’s dividend payout ratio is 31.83%.
About Strathcona Resources
Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan.
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