Atb Cap Markets Downgrades Strathcona Resources (TSE:SCR) to Hold

Strathcona Resources (TSE:SCR - Get Free Report) was downgraded by stock analysts at Atb Cap Markets from a "strong-buy" rating to a "hold" rating in a research note issued on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on SCR. TD Securities raised their target price on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday, November 15th. Jefferies Financial Group lifted their price objective on Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday. Scotiabank boosted their price objective on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, November 15th. ATB Capital raised their target price on shares of Strathcona Resources from C$37.00 to C$38.00 in a research note on Friday, November 15th. Finally, Royal Bank of Canada upped their price target on shares of Strathcona Resources from C$34.00 to C$36.00 in a research report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Strathcona Resources currently has an average rating of "Moderate Buy" and an average price target of C$36.38.

Strathcona Resources Stock Performance

SCR traded up C$0.37 during midday trading on Wednesday, hitting C$27.68. 37,227 shares of the company traded hands, compared to its average volume of 39,355. The company's 50-day moving average is C$29.43 and its 200 day moving average is C$30.24. 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$5.93 billion and a PE ratio of 6.44. Strathcona Resources has a 52 week low of C$21.35 and a 52 week high of C$37.69.

Insider Activity

In other Strathcona Resources news, Director Navjeet Dhillon acquired 3,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of C$32.56 per share, with a total value of C$97,668.00. Company insiders own 91.34% of the company's stock.

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.