Strathcona Resources (TSE:SCR) Stock Price Passes Below Fifty Day Moving Average – Time to Sell?

Shares of Strathcona Resources Ltd. (TSE:SCR) passed below its 50-day moving average during trading on Thursday . The stock has a 50-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.

Wall Street Analyst Weigh In

SCR has been the subject of a number of analyst reports. TD Securities boosted their target price on shares of Strathcona Resources from C$35.00 to C$36.00 and gave the company a “hold” rating in a research note on Friday, November 7th. Royal Bank Of Canada dropped their price target on shares of Strathcona Resources from C$40.00 to C$35.00 and set a “moderate buy” rating on the stock in a research note on Tuesday, January 13th. Natl Bk Canada upgraded Strathcona Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. Jefferies Financial Group decreased their price objective on Strathcona Resources from C$29.00 to C$26.00 in a report on Tuesday, January 20th. Finally, ATB Capital cut their target price on Strathcona Resources from C$42.00 to C$32.00 in a research note on Tuesday, December 23rd. Two 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$32.43.

Strathcona Resources Price Performance

The business has a 50-day simple moving average of C$32.28 and a two-hundred day simple moving average of C$35.49. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06. The stock has a market capitalization of C$5.87 billion, a price-to-earnings ratio of 5.35, a P/E/G ratio of -2.02 and a beta of 2.61.

Strathcona Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.20 annualized dividend and a yield of 4.4%. Strathcona Resources’s dividend payout ratio (DPR) 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.