Strathcona Resources (TSE:SCR) Reaches New 52-Week High – Here’s Why

Shares of Strathcona Resources Ltd. (TSE:SCR) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$51.70 and last traded at C$48.81, with a volume of 634116 shares. The stock had previously closed at C$51.33.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SCR. TD Securities raised Strathcona Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Royal Bank Of Canada lifted their price objective on 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. Roth Mkm set a C$40.00 price objective on Strathcona Resources and gave the stock a “buy” rating in a report on Tuesday, March 10th. Finally, National Bank Financial lifted their price objective on Strathcona Resources from C$41.00 to C$69.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$39.14.

Strathcona Resources Stock Performance

The firm has a market cap of C$10.46 billion, a PE ratio of 14.07, a P/E/G ratio of -2.02 and a beta of 2.61. 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 50-day moving average price of C$40.77 and a 200 day moving average price of C$36.03.

Strathcona Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 27th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.5%. Strathcona Resources’s payout ratio is currently 34.58%.

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.