Strathcona Resources (TSE:SCR) Share Price Passes Below 50-Day Moving Average – Should You Sell?

Strathcona Resources Ltd. (TSE:SCR)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$27.72 and traded as low as C$27.59. Strathcona Resources shares last traded at C$27.80, with a volume of 13,934 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently commented on SCR shares. CIBC lifted their price target on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, January 17th. Jefferies Financial Group raised their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. TD Securities cut their target price on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Atb Cap Markets cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada cut their target price on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating on the stock in a report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Strathcona Resources presently has an average rating of “Moderate Buy” and a consensus target price of C$35.50.

Strathcona Resources Stock Performance

The stock has a fifty day moving average price of C$27.64 and a two-hundred day moving average price of C$28.64. The company has a market cap of C$6.31 billion and a P/E ratio of 17.00. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09.

Strathcona Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, March 21st. This is a boost from Strathcona Resources’s previous quarterly dividend of $0.25. Strathcona Resources’s payout ratio is 57.67%.

Insider Activity

In other news, Senior Officer Pit Kim Chiu bought 1,600 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of C$28.05 per share, with a total value of C$44,887.04. Also, Senior Officer Allan Grabas bought 8,802 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of C$27.47 per share, for a total transaction of C$241,790.94. Over the last 90 days, insiders have acquired 20,450 shares of company stock valued at $593,656. Insiders own 91.34% of the company’s stock.

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.