TD Securities Trims Strathcona Resources (TSE:SCR) Target Price to C$30.00

Strathcona Resources (TSE:SCR) had its price target lowered by TD Securities from C$34.00 to C$30.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports.

A number of other research analysts also recently commented on the company. Scotiabank raised Strathcona Resources to a strong-buy rating in a report on Friday, June 14th. Jefferies Financial Group reduced their price objective on Strathcona Resources from C$35.00 to C$30.00 and set a hold rating on the stock in a research note on Monday, September 16th. Standpoint Research boosted their target price on shares of Strathcona Resources from C$40.00 to C$42.00 in a research note on Thursday, July 11th. Finally, Royal Bank of Canada dropped their target price on shares of Strathcona Resources from C$37.00 to C$34.00 in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Strathcona Resources presently has a consensus rating of Moderate Buy and an average price target of C$34.25.

Strathcona Resources Trading Up 5.8 %

SCR opened at C$28.16 on Tuesday. Strathcona Resources has a 12-month low of C$20.16 and a 12-month high of C$37.69. The company has a debt-to-equity ratio of 50.29, a current ratio of 0.53 and a quick ratio of 11.09. The stock has a market capitalization of C$6.03 billion and a PE ratio of 6.55. The firm’s fifty day moving average price is C$29.55 and its 200 day moving average price is C$31.27.

Strathcona Resources (TSE:SCR) last issued its earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share (EPS) for the quarter. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. The business had revenue of C$992.90 million for the quarter, compared to analyst estimates of C$978.00 million. As a group, research analysts expect that Strathcona Resources will post 2.8503055 EPS for the current fiscal year.

Strathcona Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Monday, September 16th. Strathcona Resources’s payout ratio is 23.26%.

Insiders Place Their Bets

In other Strathcona Resources news, Director Navjeet Dhillon acquired 3,455 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average cost of C$31.75 per share, with a total value of C$109,696.25. In related news, Senior Officer Scott Seipert bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of C$30.50 per share, for a total transaction of C$152,500.00. Also, Director Navjeet Dhillon bought 3,455 shares of the stock in a transaction on Monday, August 19th. The shares were bought at an average cost of C$31.75 per share, for a total transaction of C$109,696.25. 91.34% of the stock is owned by insiders.

Strathcona Resources Company Profile

Strathcona Resources Ltd. acquires, explores, develops, and produces petroleum and natural gas reserves in Canada. It operates through three segments: Cold Lake Thermal, Lloydminster Heavy Oil, and Montney. The Cold Lake Thermal segment includes three producing assets in the Cold Lake region of Northern Alberta; and Lindbergh, Orion, and Tucker.