Strathcona Resources (TSE:SCR) Posts Quarterly Earnings Results

Strathcona Resources (TSE:SCR) released its quarterly earnings data on Thursday. The company reported C$1.76 EPS for the quarter, FiscalAI reports. The business had revenue of C$2.73 billion during the quarter. Strathcona Resources had a net margin of 20.18% and a return on equity of 13.89%.

Strathcona Resources Stock Up 2.8%

SCR stock opened at C$39.83 on Friday. The company has a debt-to-equity ratio of 50.35, a current ratio of 0.39 and a quick ratio of 11.09. The stock has a market capitalization of C$8.53 billion, a P/E ratio of 11.48, a P/E/G ratio of -2.02 and a beta of 2.61. Strathcona Resources has a fifty-two week low of C$25.79 and a fifty-two week high of C$51.70. The business has a 50-day moving average of C$41.32 and a 200-day moving average of C$38.05.

Strathcona Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 17th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, June 8th. Strathcona Resources’s dividend payout ratio is currently 34.58%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SCR. Jefferies Financial Group upgraded Strathcona Resources from a “hold” rating to a “buy” rating and increased their price target for the stock from C$45.00 to C$56.00 in a report on Thursday, June 4th. National Bank Financial lowered their target price on Strathcona Resources from C$68.00 to C$66.00 and set an “outperform” rating for the company in a research note on Wednesday, July 8th. Finally, TD Securities upgraded shares of Strathcona Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$43.00.

Strathcona Resources Company Profile

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.