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

Strathcona Resources Ltd. (TSE:SCR)’s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$32.28 and traded as low as C$26.53. Strathcona Resources shares last traded at C$27.15, with a volume of 287,608 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently commented on SCR shares. TD Securities boosted their target price on shares of Strathcona Resources from C$35.00 to C$36.00 and gave the stock a “hold” rating in a report on Friday, November 7th. National Bankshares raised Strathcona Resources from a “sector perform” rating to an “outperform” rating and dropped their price target for the company from C$36.00 to C$32.00 in a report on Friday, January 9th. Natl Bk Canada upgraded Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. Royal Bank Of Canada decreased their target price on Strathcona Resources from C$40.00 to C$35.00 and set a “moderate buy” rating on the stock in a report on Tuesday, January 13th. Finally, Jefferies Financial Group reduced their target price on Strathcona Resources from C$29.00 to C$26.00 in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$32.43.

Strathcona Resources Stock Performance

The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06. The stock has a market capitalization of C$5.87 billion, a PE ratio of 5.35, a PEG ratio of -2.02 and a beta of 2.61. The firm’s 50-day simple moving average is C$32.28 and its two-hundred day simple moving average is C$35.49.

Strathcona Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 15th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.4%. Strathcona Resources’s payout ratio is currently 21.68%.

About Strathcona Resources

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. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties.