Strathcona Resources (TSE:SCR) Sets New 12-Month High – Here’s What Happened

Strathcona Resources Ltd. (TSE:SCR)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as C$44.24 and last traded at C$44.20, with a volume of 258802 shares traded. The stock had previously closed at C$42.68.

Wall Street Analysts Forecast Growth

SCR has been the subject of a number of recent research reports. Jefferies Financial Group lowered their target price on Strathcona Resources from C$29.00 to C$26.00 in a research note on Tuesday, January 20th. National Bank Financial increased their target price on Strathcona Resources from C$41.00 to C$69.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada increased their target price on Strathcona Resources from C$36.00 to C$49.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. TD Securities upgraded Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Finally, Roth Mkm set a C$40.00 target price on Strathcona Resources and gave the company a “buy” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$39.14.

Strathcona Resources Trading Up 4.7%

The company has a quick ratio of 11.09, a current ratio of 0.37 and a debt-to-equity ratio of 49.94. The firm has a market cap of C$9.57 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of -2.02 and a beta of 2.61. The business has a 50 day moving average price of C$37.22 and a 200-day moving average price of C$35.22.

Strathcona Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 27th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, March 20th. Strathcona Resources’s dividend payout ratio (DPR) is 27.29%.

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.