Strathcona Resources (TSE:SCR) Price Target Raised to C$50.00

Strathcona Resources (TSE:SCR) had its price objective upped by ATB Cormark Capital Markets from C$46.00 to C$50.00 in a research report sent to investors on Thursday morning,BayStreet reports. The firm currently has a sector perform rating on the stock.

Separately, National Bank Financial cut their target price on shares of Strathcona Resources from C$63.00 to C$62.00 and set an “outperform” rating for the company in a research report on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Strathcona Resources has a consensus rating of “Moderate Buy” and an average price target of C$45.00.

Strathcona Resources Stock Performance

Shares of SCR stock opened at C$44.11 on Thursday. The company has a 50 day moving average price of C$42.26 and a 200-day moving average price of C$41.86. Strathcona Resources has a 52 week low of C$25.79 and a 52 week high of C$51.70. The firm has a market capitalization of C$9.45 billion, a PE ratio of 11.20, a P/E/G ratio of -2.02 and a beta of -0.16. The company has a quick ratio of 11.09, a current ratio of 0.43 and a debt-to-equity ratio of 43.82.

Strathcona Resources (TSE:SCR) last released its quarterly earnings data on Thursday, August 6th. The company reported C$1.76 earnings per share for the quarter. The firm had revenue of C$1.40 billion during the quarter. Strathcona Resources had a net margin of 19.41% and a return on equity of 17.02%. As a group, equities research analysts expect that Strathcona Resources will post 2.85 earnings per share for the current year.

Strathcona Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Monday, September 21st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. Strathcona Resources’s dividend payout ratio is currently 30.46%.

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.