Strathcona Resources (TSE:SCR) Hits New 1-Year High – Here’s What Happened

Strathcona Resources Ltd. (TSE:SCR) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$46.66 and last traded at C$46.46, with a volume of 50480 shares traded. The stock had previously closed at C$45.35.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Roth Mkm set a C$40.00 price objective on shares of Strathcona Resources and gave the stock a “buy” rating in a report on Tuesday, March 10th. Royal Bank Of Canada raised their price objective on shares of Strathcona Resources from C$36.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 8th. National Bank Financial raised their price objective on shares of Strathcona Resources from C$41.00 to C$69.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Jefferies Financial Group decreased their price objective on shares of Strathcona Resources from C$29.00 to C$26.00 in a report on Tuesday, January 20th. Finally, TD Securities upgraded shares of Strathcona Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$39.14.

Strathcona Resources Price Performance

The business’s fifty day moving average is C$39.49 and its 200-day moving average is C$35.67. 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$10.00 billion, a PE ratio of 13.46, a P/E/G ratio of -2.02 and a beta of 2.61.

Strathcona Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 27th were paid a $0.30 dividend. The ex-dividend date was Friday, March 20th. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. Strathcona Resources’s dividend payout ratio (DPR) is presently 34.58%.

Strathcona Resources Company Profile

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.