Strathcona Resources Ltd. (TSE:SCR) Raises Dividend to $0.30 Per Share

Strathcona Resources Ltd. (TSE:SCR) declared a quarterly dividend on Friday, June 13th, TickerTech Dividends reports. Stockholders of record on Monday, June 23rd will be given a dividend of 0.30 per share on Monday, June 23rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, June 13th. This is a 15.4% increase from Strathcona Resources’s previous quarterly dividend of $0.26.

Strathcona Resources Stock Up 0.3%

Strathcona Resources stock traded up C$0.10 during trading on Wednesday, hitting C$30.15. 23,520 shares of the company were exchanged, compared to its average volume of 47,290. The company has a market capitalization of C$6.45 billion and a P/E ratio of 17.39. The business’s 50 day moving average is C$26.96 and its 200 day moving average is C$28.12. Strathcona Resources has a 52 week low of C$22.75 and a 52 week high of C$33.93. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SCR shares. CIBC dropped their price target on shares of Strathcona Resources from C$37.00 to C$33.00 in a research report on Thursday, April 10th. Royal Bank of Canada increased their price objective on shares of Strathcona Resources from C$34.00 to C$36.00 in a research note on Thursday, May 22nd. TD Securities dropped their target price on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Finally, Scotiabank upgraded Strathcona Resources to a “strong-buy” rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$35.29.

About Strathcona Resources

Strathcona Resources Ltd. acquires, explores, develops, and produces petroleum and natural gas reserves in Canada. It operates through three segments: Cold Lake Thermal, Lloydminster Heavy Oil, and Montney. The Cold Lake Thermal segment includes three producing assets in the Cold Lake region of Northern Alberta; and Lindbergh, Orion, and Tucker.