Pit Kim Chiu Buys 1,665 Shares of Strathcona Resources Ltd. (TSE:SCR) Stock

Strathcona Resources Ltd. (TSE:SCR) Senior Officer Pit Kim Chiu bought 1,665 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was bought at an average cost of C$30.00 per share, with a total value of C$49,950.00.

Pit Kim Chiu also recently made the following trade(s):

• On Friday, April 11th, Pit Kim Chiu purchased 1,000 shares of Strathcona Resources stock. The stock was bought at an average cost of C$24.00 per share, with a total value of C$24,000.00.

Strathcona Resources Price Performance

Shares of TSE SCR opened at C$31.50 on Friday. The company has a 50 day simple moving average of C$27.40 and a two-hundred day simple moving average of C$28.14. Strathcona Resources Ltd. has a fifty-two week low of C$22.75 and a fifty-two week high of C$33.93. The company has a market capitalization of C$6.74 billion and a price-to-earnings ratio of 18.17. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 23rd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from Strathcona Resources’s previous quarterly dividend of $0.26. Strathcona Resources’s dividend payout ratio (DPR) is 57.67%.

Analysts Set New Price Targets

Several analysts have weighed in on SCR shares. Royal Bank of Canada lifted their price objective on Strathcona Resources from C$34.00 to C$36.00 in a research report on Thursday, May 22nd. CIBC lowered their target price on Strathcona Resources from C$37.00 to C$33.00 in a research note on Thursday, April 10th. TD Securities reduced their price target on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Finally, Scotiabank upgraded Strathcona Resources to a “strong-buy” rating in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Strathcona Resources presently has a consensus rating of “Hold” and an average target price of C$35.29.

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.