Scotiabank Issues Positive Forecast for Strathcona Resources (TSE:SCR) Stock Price

Strathcona Resources (TSE:SCR) had its target price raised by investment analysts at Scotiabank from C$35.00 to C$37.00 in a research report issued on Friday,BayStreet.CA reports. Scotiabank’s target price would indicate a potential upside of 14.23% from the company’s previous close.

SCR has been the subject of a number of other reports. Royal Bank of Canada lowered their price objective on Strathcona Resources from C$37.00 to C$34.00 in a research note on Tuesday, September 17th. Jefferies Financial Group dropped their price objective on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a report on Monday, September 16th. Finally, TD Securities boosted their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$36.13.

Strathcona Resources Stock Performance

Shares of TSE:SCR traded down C$0.11 on Friday, reaching C$32.39. 42,067 shares of the company’s stock were exchanged, compared to its average volume of 40,224. Strathcona Resources has a fifty-two week low of C$20.16 and a fifty-two week high of C$37.69. The business’s 50-day moving average is C$27.95 and its two-hundred day moving average is C$30.61. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29. The firm has a market capitalization of C$6.94 billion and a price-to-earnings ratio of 7.53.

Strathcona Resources (TSE:SCR) last issued its earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share (EPS) for the quarter. The firm had revenue of C$992.90 million for the quarter, compared to analysts’ expectations of C$978.00 million. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. As a group, equities research analysts forecast that Strathcona Resources will post 2.8494405 EPS for the current year.

Insider Activity

In related news, Senior Officer Scott Seipert bought 5,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of C$30.50 per share, for a total transaction of C$152,500.00. Also, Director Navjeet Dhillon bought 3,455 shares of the stock in a transaction on Monday, August 19th. The stock was purchased at an average price of C$31.75 per share, for a total transaction of C$109,696.25. 91.34% of the stock is currently owned by company insiders.

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.