Insider Buying: Strathcona Resources Ltd. (TSE:SCR) Director Purchases C$139,522.50 in Stock

Strathcona Resources Ltd. (TSE:SCR) Director Connie De Ciancio acquired 4,293 shares of Strathcona Resources stock in a transaction dated Monday, July 14th. The stock was purchased at an average cost of C$32.50 per share, with a total value of C$139,522.50.

Strathcona Resources Trading Down 1.4%

TSE:SCR opened at C$32.15 on Friday. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09. The stock’s fifty day moving average price is C$30.11 and its two-hundred day moving average price is C$28.33. The company has a market cap of C$6.88 billion and a P/E ratio of 18.54. Strathcona Resources Ltd. has a 1 year low of C$22.75 and a 1 year high of C$33.57.

Strathcona Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 23rd were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from Strathcona Resources’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a yield of 3.73%. Strathcona Resources’s dividend payout ratio is 57.67%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SCR. CIBC lowered their price target on Strathcona Resources from C$37.00 to C$33.00 in a report on Thursday, April 10th. National Bank Financial upgraded Strathcona Resources to a “strong-buy” rating in a report on Sunday, June 29th. National Bankshares set a C$42.00 price objective on shares of Strathcona Resources and gave the company an “outperform” rating in a research note on Monday, June 30th. Cibc World Mkts cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Finally, ATB Capital raised their price objective on Strathcona Resources from C$32.00 to C$35.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 17th. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$34.86.

Strathcona Resources Company Profile

Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan.