Strathcona Resources (TSE:SCR) Shares Cross Below 50 Day Moving Average – Here’s Why

Strathcona Resources Ltd. (TSE:SCR)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$42.97 and traded as low as C$41.71. Strathcona Resources shares last traded at C$42.07, with a volume of 403,080 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Roth Mkm set a C$40.00 price target on Strathcona Resources and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada upped their price target on Strathcona Resources from C$36.00 to C$49.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Jefferies Financial Group raised Strathcona Resources from a “hold” rating to a “buy” rating and upped their price target for the stock from C$45.00 to C$56.00 in a research report on Thursday, June 4th. National Bank Financial upped their price target on Strathcona Resources from C$41.00 to C$69.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Finally, TD Securities raised Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Strathcona Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of C$43.43.

Strathcona Resources Stock Down 1.9%

The firm has a 50-day moving average of C$42.97 and a 200 day moving average of C$36.72. 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 stock has a market capitalization of C$9.01 billion, a price-to-earnings ratio of 12.12, 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 will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 17th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $1.20 annualized dividend and a yield of 2.9%. Strathcona Resources’s dividend payout ratio is 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.