Strathcona Resources (TSE:SCR) Stock Crosses Below 50 Day Moving Average – What’s Next?

Strathcona Resources Ltd. (TSE:SCR)’s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$29.12 and traded as low as C$26.87. Strathcona Resources shares last traded at C$27.04, with a volume of 19,846 shares.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. CIBC lifted their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, January 17th. Royal Bank of Canada dropped their price objective on shares of Strathcona Resources from C$36.00 to C$35.00 in a research note on Tuesday, January 14th. Jefferies Financial Group lifted their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. TD Securities raised their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a report on Friday, November 15th. Finally, Scotiabank raised their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$35.88.

Strathcona Resources Stock Up 0.7 %

The company’s fifty day moving average price is C$29.12 and its 200-day moving average price is C$29.34. The stock has a market cap of C$5.78 billion and a P/E ratio of 15.60. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53.

Strathcona Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.70%. Strathcona Resources’s payout ratio is 57.67%.

Insider Activity at Strathcona Resources

In related news, Senior Officer Pit Kim Chiu acquired 1,600 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of C$28.05 per share, for a total transaction of C$44,887.04. Also, Senior Officer Dale George Babiak acquired 6,410 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average price of C$31.50 per share, with a total value of C$201,915.00. Insiders purchased 11,648 shares of company stock worth $351,865 in the last 90 days. 91.34% of the stock is owned by corporate insiders.

About Strathcona Resources

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.