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

Strathcona Resources (TSE:SCR) had its target price boosted by equities research analysts at ATB Capital from C$37.00 to C$38.00 in a research note issued on Friday,BayStreet.CA reports. ATB Capital’s price target would suggest a potential upside of 17.98% from the stock’s previous close.

SCR has been the topic of a number of other research reports. Scotiabank raised their target price on Strathcona Resources from C$35.00 to C$37.00 in a report on Friday. Jefferies Financial Group cut 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. TD Securities upped their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday. Finally, Royal Bank of Canada raised their price target on shares of Strathcona Resources from C$34.00 to C$36.00 in a research report on Friday. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$36.13.

Strathcona Resources Price Performance

Shares of TSE SCR opened at C$32.21 on Friday. The stock has a market cap of C$6.90 billion and a price-to-earnings ratio of 7.49. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. Strathcona Resources has a fifty-two week low of C$20.16 and a fifty-two week high of C$37.69. The firm’s 50-day simple moving average is C$28.01 and its 200 day simple moving average is C$30.61.

Insider Activity at Strathcona Resources

In related news, Director Navjeet Dhillon bought 3,000 shares of Strathcona Resources stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost 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 stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of C$30.50 per share, for a total transaction of C$152,500.00. Over the last 90 days, insiders purchased 11,455 shares of company stock worth $359,864. 91.34% of the stock is 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.