Strathcona Resources (TSE:SCR) Stock Crosses Below 50 Day Moving Average – Here’s Why

Strathcona Resources Ltd. (TSE:SCR)’s share price passed 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 trading hands.

Wall Street Analysts Forecast Growth

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

Strathcona Resources Price Performance

The company has a fifty day simple moving average of C$31.99 and a 200 day simple moving average of C$35.47. The stock has a market capitalization of C$5.95 billion, a price-to-earnings ratio of 5.43, a P/E/G ratio of -2.02 and a beta of 2.61. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were issued a $0.30 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.20 annualized dividend and a yield of 4.3%. Strathcona Resources’s dividend payout ratio is presently 21.68%.

Strathcona Resources Company Profile

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.