Strathcona Resources (TSE:SCR) Shares Pass Below 50-Day Moving Average – Here’s What Happened

Strathcona Resources Ltd. (TSE:SCR)’s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$29.12 and traded as low as C$26.87. Strathcona Resources shares last traded at C$27.04, with a volume of 19,846 shares changing hands.

Analyst Ratings Changes

Several brokerages recently issued reports on SCR. ATB Capital lifted their price target on shares of Strathcona Resources from C$37.00 to C$38.00 in a report on Friday, November 15th. Jefferies Financial Group boosted their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. CIBC upped their price target on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, January 17th. TD Securities increased their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a report on Friday, November 15th. Finally, Atb Cap Markets downgraded shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$35.88.

Strathcona Resources Trading Up 0.7 %

The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06. The company has a market cap of C$5.78 billion and a PE ratio of 15.60. The firm has a fifty day moving average of C$29.07 and a two-hundred day moving average of C$29.31.

Strathcona Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.70%. Strathcona Resources’s payout ratio is 57.67%.

Insider Buying and Selling at Strathcona Resources

In related news, Director Connie De Ciancio bought 3,358 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were purchased at an average cost of C$28.77 per share, with a total value of C$96,609.66. Also, Senior Officer Pit Kim Chiu purchased 1,600 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of C$28.05 per share, for a total transaction of C$44,887.04. Over the last 90 days, insiders purchased 11,648 shares of company stock worth $351,865. 91.34% of the stock is currently owned by insiders.

About Strathcona Resources

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.