Royal Bank Of Canada Issues Positive Forecast for Strathcona Resources (TSE:SCR) Stock Price

Strathcona Resources (TSE:SCR) had its price target lifted by Royal Bank Of Canada from C$36.00 to C$49.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

SCR has been the topic of a number of other reports. Jefferies Financial Group cut their target price on Strathcona Resources from C$29.00 to C$26.00 in a research report on Tuesday, January 20th. Roth Mkm set a C$40.00 price target on Strathcona Resources and gave the company a “buy” rating in a research report on Tuesday, March 10th. Scotiabank dropped their price target on Strathcona Resources from C$40.00 to C$33.00 in a research report on Tuesday, December 30th. National Bank Financial upped their price target on Strathcona Resources from C$41.00 to C$69.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Finally, ATB Cormark Capital Markets dropped their price target on Strathcona Resources from C$42.00 to C$32.00 in a research report on Tuesday, December 23rd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$38.38.

Strathcona Resources Stock Performance

Shares of SCR opened at C$40.01 on Wednesday. The business’s 50 day moving average is C$33.90 and its two-hundred day moving average is C$35.05. Strathcona Resources has a 52-week low of C$22.75 and a 52-week high of C$45.09. The firm has a market cap of C$8.57 billion, a price-to-earnings ratio of 9.41, a PEG ratio of -2.02 and a beta of 2.61. The company has a quick ratio of 11.09, a current ratio of 0.37 and a debt-to-equity ratio of 49.94.

Strathcona Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 27th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, March 20th. Strathcona Resources’s dividend payout ratio is currently 27.29%.

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. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties.