Royal Bank of Canada Cuts Strathcona Resources (TSE:SCR) Price Target to C$34.00

Strathcona Resources (TSE:SCR) had its target price cut by Royal Bank of Canada from C$37.00 to C$34.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports.

A number of other research analysts also recently issued reports on SCR. Jefferies Financial Group dropped their price target on shares of Strathcona Resources from C$35.00 to C$30.00 and set a hold rating on the stock in a research report on Monday. Standpoint Research boosted their target price on shares of Strathcona Resources from C$40.00 to C$42.00 in a report on Thursday, July 11th. Finally, Scotiabank upgraded Strathcona Resources to a strong-buy rating in a report on Friday, June 14th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$34.25.

Strathcona Resources Stock Performance

TSE:SCR opened at C$27.90 on Tuesday. The stock has a market cap of C$5.98 billion and a P/E ratio of 6.49. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. The stock’s 50-day moving average is C$30.54 and its 200-day moving average is C$31.20. Strathcona Resources has a 1-year low of C$20.16 and a 1-year high of C$37.69.

Strathcona Resources (TSE:SCR) last released its quarterly earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share for the quarter. The company had revenue of C$992.90 million for the quarter, compared to analysts’ expectations of C$978.00 million. Strathcona Resources had a return on equity of 12.32% and a net margin of 11.62%. Equities research analysts anticipate that Strathcona Resources will post 4.0757143 earnings per share for the current year.

Strathcona Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Monday, September 16th. Strathcona Resources’s dividend payout ratio (DPR) is currently 23.26%.

Insider Activity

In other news, Director Navjeet Dhillon bought 3,455 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average cost of C$31.75 per share, with a total value of C$109,696.25. In other news, Senior Officer Scott Seipert bought 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of C$30.50 per share, with a total value of C$152,500.00. Also, Director Navjeet Dhillon bought 3,455 shares of the stock in a transaction dated Monday, August 19th. The shares were purchased at an average cost of C$31.75 per share, for a total transaction of C$109,696.25. Company 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.