Strathcona Resources (TSE:SCR) Price Target Raised to C$38.00

Strathcona Resources (TSE:SCR) had its price target boosted by Jefferies Financial Group from C$34.00 to C$38.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports.

Several other research analysts have also commented on the stock. TD Securities raised their price objective on shares of Strathcona Resources from C$35.00 to C$36.00 and gave the company a “hold” rating in a research note on Friday, November 7th. Scotiabank raised their target price on Strathcona Resources from C$34.00 to C$40.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Royal Bank Of Canada upped their price objective on shares of Strathcona Resources from C$36.00 to C$40.00 and gave the company a “sector perform” rating in a research note on Thursday, October 16th. Finally, National Bankshares decreased their price objective on Strathcona Resources from C$38.00 to C$36.00 and set a “sector perform” rating for the company in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$36.86.

Strathcona Resources Stock Performance

TSE:SCR opened at C$40.43 on Tuesday. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53. The company has a 50 day moving average price of C$37.08 and a 200 day moving average price of C$33.64. Strathcona Resources has a fifty-two week low of C$22.75 and a fifty-two week high of C$41.72. The stock has a market capitalization of C$8.66 billion, a P/E ratio of 7.90, a PEG ratio of -2.02 and a beta of 2.61.

Strathcona Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Monday, September 22nd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, September 12th. Strathcona Resources’s dividend payout ratio (DPR) is presently 21.68%.

About Strathcona Resources

Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan.