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

Strathcona Resources (TSE:SCR) had its target price raised by research analysts at Scotiabank from C$35.00 to C$37.00 in a research note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 14.87% from the stock’s current price.

SCR has been the topic of a number of other reports. Jefferies Financial Group cut their target price on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada cut their price objective on Strathcona Resources from C$37.00 to C$34.00 in a report on Tuesday, September 17th. Finally, TD Securities raised their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Two 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$36.13.

Strathcona Resources Trading Down 0.9 %

Strathcona Resources stock opened at C$32.21 on Friday. The firm has a market cap of C$6.90 billion and a price-to-earnings ratio of 7.49. Strathcona Resources has a 1 year low of C$20.16 and a 1 year high of C$37.69. The firm’s 50 day moving average price is C$28.01 and its two-hundred day moving average price is C$30.61. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53.

Insider Transactions at Strathcona Resources

In related news, Senior Officer Scott Seipert purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of C$30.50 per share, with a total value of C$152,500.00. Also, Director Navjeet Dhillon acquired 3,000 shares of Strathcona Resources stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of C$32.56 per share, with a total value of C$97,668.00. Insiders purchased 11,455 shares of company stock valued at $359,864 over the last three months. 91.34% of the stock is owned by corporate 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.