Strathcona Resources (TSE:SCR) Price Target Raised to C$36.00

Strathcona Resources (TSE:SCR - Get Free Report) had its price objective increased by research analysts at Royal Bank of Canada from C$34.00 to C$36.00 in a research note issued on Friday,BayStreet.CA reports. Royal Bank of Canada's price target would suggest a potential upside of 11.77% from the stock's previous close.

Several other research firms have also recently commented on SCR. TD Securities lifted their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday. Jefferies Financial Group decreased their price target on shares of Strathcona Resources from C$35.00 to C$30.00 and set a "hold" rating for the company in a research report on Monday, September 16th. Finally, Scotiabank upped their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Strathcona Resources currently has a consensus rating of "Moderate Buy" and an average price target of C$36.13.

Strathcona Resources Stock Performance

TSE SCR traded down C$0.29 during trading hours on Friday, hitting C$32.21. 51,340 shares of the stock were exchanged, compared to its average volume of 40,266. Strathcona Resources has a 12-month low of C$20.16 and a 12-month high of C$37.69. The stock has a 50-day moving average of C$28.01 and a 200 day moving average of C$30.61. The company has a market cap of C$6.90 billion and a price-to-earnings ratio of 7.49. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29.

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

Insider Activity at Strathcona Resources

In other Strathcona Resources news, Director Navjeet Dhillon bought 3,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of C$32.56 per share, with a total value of C$97,668.00. Also, Senior Officer Scott Seipert purchased 5,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of C$30.50 per share, with a total value of C$152,500.00. Over the last 90 days, insiders bought 11,455 shares of company stock valued at $359,864. Insiders own 91.34% of the company's stock.

Strathcona Resources Company Profile

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.