Strathcona Resources Ltd. (TSE:SCR) to Issue Quarterly Dividend of $0.26

Strathcona Resources Ltd. (TSE:SCR) declared a quarterly dividend on Friday, March 21st, TickerTech Dividends reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.26 per share on Monday, March 31st. This represents a $1.04 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, March 21st. This is a 4.0% increase from Strathcona Resources’s previous quarterly dividend of $0.25.

Strathcona Resources Stock Up 1.0 %

TSE:SCR opened at C$27.80 on Wednesday. The firm has a market capitalization of C$5.95 billion and a price-to-earnings ratio of 16.03. Strathcona Resources has a twelve month low of C$22.75 and a twelve month high of C$37.69. The stock’s 50 day moving average price is C$27.72 and its two-hundred day moving average price is C$28.66. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06.

Insiders Place Their Bets

In other news, Senior Officer Allan Grabas acquired 8,802 shares of Strathcona Resources stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of C$27.47 per share, with a total value of C$241,790.94. Also, Senior Officer Pit Kim Chiu acquired 1,600 shares of Strathcona Resources stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of C$28.05 per share, for a total transaction of C$44,887.04. Insiders have acquired 20,450 shares of company stock valued at $593,656 in the last ninety days. 91.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SCR has been the subject of several research analyst reports. Atb Cap Markets downgraded shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada reduced their target price on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating for the company in a report on Thursday, March 6th. Jefferies Financial Group lifted their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. CIBC lifted their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. Finally, TD Securities dropped their price objective on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$35.50.

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.