CIBC Raises Strathcona Resources (TSE:SCR) Price Target to C$40.00

Strathcona Resources (TSE:SCR) had its price target raised by CIBC from C$35.00 to C$40.00 in a report released on Monday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. Scotiabank lowered their price objective on Strathcona Resources from C$40.00 to C$32.00 and set a sector perform rating on the stock in a research note on Tuesday, January 16th. Jefferies Financial Group increased their price objective on Strathcona Resources from C$26.00 to C$36.00 and gave the stock a hold rating in a research note on Friday, April 12th. ATB Capital set a C$31.00 price objective on Strathcona Resources and gave the company an outperform rating in a report on Thursday, February 1st. BMO Capital Markets upped their target price on shares of Strathcona Resources from C$25.00 to C$33.00 in a report on Thursday, March 28th. Finally, Royal Bank of Canada increased their target price on shares of Strathcona Resources from C$31.00 to C$38.00 in a research report on Tuesday, April 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of C$34.57.

Strathcona Resources Stock Down 1.7 %

Shares of SCR stock opened at C$32.93 on Monday. Strathcona Resources has a one year low of C$20.16 and a one year high of C$34.98. The company has a debt-to-equity ratio of 58.40, a current ratio of 0.42 and a quick ratio of 11.09. The stock has a fifty day moving average price of C$28.51 and a 200 day moving average price of C$25.81. The stock has a market cap of C$7.05 billion and a P/E ratio of -15.01.

Strathcona Resources (TSE:SCR) last announced its quarterly earnings data on Tuesday, March 26th. The company reported C$1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.32 by C($0.09). Strathcona Resources had a net margin of 13.63% and a return on equity of 12.32%. The business had revenue of C$1.29 billion during the quarter, compared to analyst estimates of C$869.00 million. Analysts predict that Strathcona Resources will post 4.4259502 earnings per share for the current year.

Insider Activity at Strathcona Resources

In related news, Director Robert J. Morgan acquired 2,993 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were purchased at an average price of C$34.20 per share, with a total value of C$102,360.60. 8.01% of the stock is currently owned by company insiders.

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.