Strathcona Resources (TSE:SCR) Shares Pass Above Fifty Day Moving Average – Here’s Why

Shares of Strathcona Resources Ltd. (TSE:SCR) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$37.22 and traded as high as C$42.77. Strathcona Resources shares last traded at C$42.68, with a volume of 434,361 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Roth Mkm set a C$40.00 price target on Strathcona Resources and gave the company a “buy” rating in a research note on Tuesday, March 10th. Jefferies Financial Group dropped their price target on Strathcona Resources from C$29.00 to C$26.00 in a research note on Tuesday, January 20th. TD Securities raised Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. Royal Bank Of Canada boosted their price target on Strathcona Resources from C$36.00 to C$49.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Finally, National Bank Financial boosted their price target on Strathcona Resources from C$41.00 to C$69.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$39.14.

Strathcona Resources Stock Performance

The company has a quick ratio of 11.09, a current ratio of 0.37 and a debt-to-equity ratio of 49.94. The stock has a market cap of C$9.57 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of -2.02 and a beta of 2.61. The company has a 50 day simple moving average of C$37.22 and a 200 day simple moving average of C$35.22.

Strathcona Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 27th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $1.20 annualized dividend and a yield of 2.7%. Strathcona Resources’s payout ratio is presently 27.29%.

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.