Strathcona Resources (TSE:SCR) Price Target Raised to C$31.00

Strathcona Resources (TSE:SCR) had its price target increased by research analysts at TD Securities from C$30.00 to C$31.00 in a research note issued on Friday,BayStreet.CA reports. TD Securities’ target price suggests a potential downside of 4.29% from the company’s current price.

A number of other brokerages have also weighed in on SCR. Jefferies Financial Group reduced their price target on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reduced their target price on Strathcona Resources from C$37.00 to C$34.00 in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$36.13.

Strathcona Resources Price Performance

Strathcona Resources stock traded down C$0.11 during midday trading on Friday, reaching C$32.39. 42,067 shares of the company were exchanged, compared to its average volume of 40,224. The company has a market capitalization of C$6.94 billion and a price-to-earnings ratio of 7.53. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. The firm’s 50-day simple moving average is C$27.95 and its 200-day simple moving average is C$30.61. Strathcona Resources has a 1 year low of C$20.16 and a 1 year high of C$37.69.

Strathcona Resources (TSE:SCR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported C$1.43 EPS for the quarter. The business had revenue of C$992.90 million during the quarter, compared to the consensus estimate of C$978.00 million. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. On average, analysts anticipate that Strathcona Resources will post 2.8494405 EPS for the current year.

Insider Activity

In other Strathcona Resources news, Senior Officer Scott Seipert bought 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 bought 3,455 shares of Strathcona Resources stock in a transaction dated Monday, August 19th. The shares were acquired at an average price of C$31.75 per share, with a total value of C$109,696.25. 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.