Royal Bank Of Canada Cuts Strathcona Resources (TSE:SCR) Price Target to C$35.00

Strathcona Resources (TSE:SCR) had its target price trimmed by Royal Bank Of Canada from C$40.00 to C$35.00 in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have a moderate buy rating on the stock.

A number of other research analysts also recently issued reports on the stock. National Bankshares upgraded shares of Strathcona Resources from a “sector perform” rating to an “outperform” rating and dropped their price target for the stock from C$36.00 to C$32.00 in a research report on Friday, January 9th. ATB Capital lowered their target price on shares of Strathcona Resources from C$42.00 to C$32.00 in a research note on Tuesday, December 23rd. Natl Bk Canada upgraded shares of Strathcona Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. TD Securities increased their price target on Strathcona Resources from C$35.00 to C$36.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Finally, Jefferies Financial Group lowered their price objective on Strathcona Resources from C$38.00 to C$29.00 in a research report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$32.86.

Strathcona Resources Price Performance

Shares of SCR opened at C$25.94 on Tuesday. The business has a 50-day moving average of C$36.79 and a 200-day moving average of C$35.98. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09. The company has a market capitalization of C$5.56 billion, a price-to-earnings ratio of 5.07, a price-to-earnings-growth ratio of -2.02 and a beta of 2.61. Strathcona Resources has a 1 year low of C$22.75 and a 1 year high of C$45.09.

Strathcona Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, December 5th. Strathcona Resources’s dividend payout ratio is 21.68%.

Strathcona Resources Company Profile

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. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties.