Strathcona Resources (TSE:SCR) Stock Rating Upgraded by Scotiabank

Strathcona Resources (TSE:SCR - Get Free Report) was upgraded by equities researchers at Scotiabank to a "strong-buy" rating in a research note issued to investors on Wednesday, March 19th,Zacks.com reports.

SCR has been the subject of a number of other reports. Royal Bank of Canada cut their target price on Strathcona Resources from C$35.00 to C$34.00 and set a "sector perform" rating for the company in a research note on Thursday, March 6th. TD Securities dropped their price objective on shares of Strathcona Resources from C$32.00 to C$29.00 and set a "hold" rating for the company in a research note on Thursday, March 6th. CIBC lifted their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, January 17th. Atb Cap Markets lowered shares of Strathcona Resources from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Finally, Jefferies Financial Group raised their price target on shares of Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$35.50.

Strathcona Resources Stock Performance

Shares of SCR stock traded up C$0.39 during trading hours on Wednesday, reaching C$29.81. 24,391 shares of the company's stock were exchanged, compared to its average volume of 45,741. Strathcona Resources has a fifty-two week low of C$22.75 and a fifty-two week high of C$37.69. 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$6.38 billion and a P/E ratio of 17.19. The business has a fifty day moving average price of C$27.54 and a 200-day moving average price of C$28.61.

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Insider Transactions at Strathcona Resources

In related news, Senior Officer Allan Grabas acquired 8,802 shares of the firm's stock in a transaction on Monday, March 10th. The shares were purchased at an average price of C$27.47 per share, with a total value of C$241,790.94. Also, Senior Officer Dale George Babiak acquired 6,410 shares of the stock in a transaction on Monday, January 13th. The stock was bought at an average price of C$31.50 per share, with a total value of C$201,915.00. Over the last 90 days, insiders bought 15,492 shares of company stock valued at $452,159. Corporate 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.