Strathcona Resources (TSE:SCR) Given New C$35.00 Price Target at Royal Bank of Canada

Strathcona Resources (TSE:SCR) had its price target trimmed by Royal Bank of Canada from C$36.00 to C$35.00 in a report released on Tuesday,BayStreet.CA reports.

Several other research firms also recently weighed in on SCR. Atb Cap Markets downgraded Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. TD Securities increased their price target on shares of Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday, November 15th. Jefferies Financial Group lifted their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. Scotiabank increased their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, November 15th. Finally, ATB Capital raised their price target on Strathcona Resources from C$37.00 to C$38.00 in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$36.25.

Strathcona Resources Stock Down 3.7 %

Strathcona Resources stock opened at C$30.01 on Tuesday. The company has a market capitalization of C$6.43 billion and a P/E ratio of 6.98. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. Strathcona Resources has a fifty-two week low of C$22.45 and a fifty-two week high of C$37.69. The stock has a 50-day simple moving average of C$30.40 and a 200-day simple moving average of C$29.95.

Strathcona Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid 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 dividend yield of 3.33%. Strathcona Resources’s dividend payout ratio (DPR) is presently 23.26%.

Insider Buying and Selling

In other news, Director Navjeet Dhillon bought 3,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost of C$32.56 per share, for a total transaction of C$97,668.00. Also, Senior Officer Pit Kim Chiu acquired 1,600 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of C$28.05 per share, for a total transaction of C$44,887.04. Insiders have acquired 14,368 shares of company stock valued at $441,080 over the last quarter. 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.