Strathcona Resources (TSE:SCR) Issues Quarterly Earnings Results

Strathcona Resources (TSE:SCR) posted its quarterly earnings results on Thursday. The company reported C$1.76 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$2.73 billion for the quarter. Strathcona Resources had a return on equity of 13.89% and a net margin of 20.18%.

Strathcona Resources Trading Up 2.8%

Strathcona Resources stock traded up C$1.08 during trading hours on Thursday, reaching C$39.83. The company had a trading volume of 672,228 shares, compared to its average volume of 428,051. The company has a 50-day moving average price of C$41.41 and a 200 day moving average price of C$37.95. The company has a debt-to-equity ratio of 50.35, a current ratio of 0.39 and a quick ratio of 11.09. The firm has a market cap of C$8.53 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of -2.02 and a beta of 2.61. Strathcona Resources has a 12-month low of C$25.79 and a 12-month high of C$51.70.

Strathcona Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 17th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, June 8th. Strathcona Resources’s payout ratio is 34.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SCR shares. TD Securities upgraded Strathcona Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Royal Bank Of Canada increased their price target on Strathcona Resources from C$36.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. National Bank Financial reduced their price objective on Strathcona Resources from C$68.00 to C$66.00 and set an “outperform” rating for the company in a report on Wednesday, July 8th. Finally, Jefferies Financial Group upgraded Strathcona Resources from a “hold” rating to a “buy” rating and boosted their target price for the company from C$45.00 to C$56.00 in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$43.00.

About Strathcona Resources

Strathcona is one of North America’s fastest growing pure play heavy oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life assets. The Company has three operations, including Cold Lake, Lloydminster Thermal and Lloydminster Conventional. Strathcona is a major producer in the Cold Lake region of Alberta. Our operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from best-in-class steam-assisted gravity drainage (SAGD) oil assets.