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

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

A number of other research firms have also commented on SCR. Scotiabank raised Strathcona Resources to a strong-buy rating in a research report on Friday, June 14th. Jefferies Financial Group reduced their price objective on Strathcona Resources from C$35.00 to C$30.00 and set a hold rating for the company in a research note on Monday. Finally, Standpoint Research upped their price objective on Strathcona Resources from C$40.00 to C$42.00 in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of C$34.25.

Strathcona Resources Trading Up 2.1 %

TSE SCR opened at C$27.90 on Tuesday. The firm has a market capitalization of C$5.98 billion and a P/E ratio of 6.49. The business has a fifty day simple moving average of C$30.54 and a 200 day simple moving average of C$31.20. Strathcona Resources has a 12 month low of C$20.16 and a 12 month high of C$37.69. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29.

Strathcona Resources (TSE:SCR) last released its quarterly earnings results on Tuesday, August 13th. The company reported C$1.43 EPS for the quarter. The business had revenue of C$992.90 million during the quarter, compared to analyst estimates of C$978.00 million. Strathcona Resources had a return on equity of 12.32% and a net margin of 11.62%. On average, analysts predict that Strathcona Resources will post 4.0757143 EPS for the current fiscal year.

Strathcona Resources Announces Dividend

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

Insider Transactions at Strathcona Resources

In other news, Senior Officer Scott Seipert purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$30.50 per share, for a total transaction of C$152,500.00. In other news, Director Navjeet Dhillon purchased 3,455 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was bought at an average price of C$31.75 per share, for a total transaction of C$109,696.25. Also, Senior Officer Scott Seipert bought 5,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of C$30.50 per share, with a total value of C$152,500.00. 91.34% of the stock is owned by corporate insiders.

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.