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

Strathcona Resources (TSE:SCR) was upgraded by stock analysts at Scotiabank to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts also recently commented on SCR. CIBC lifted their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, January 17th. Royal Bank of Canada decreased their price objective on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating for the company in a research report on Thursday, March 6th. Atb Cap Markets downgraded shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. TD Securities decreased 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 report on Thursday, March 6th. Finally, Jefferies Financial Group lifted their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$35.50.

Strathcona Resources Stock Down 1.7 %

Strathcona Resources stock opened at C$28.97 on Wednesday. The company has a market cap of C$6.20 billion and a P/E ratio of 16.71. Strathcona Resources has a 1-year low of C$22.75 and a 1-year high of C$37.69. The company has a fifty day simple moving average of C$27.59 and a 200 day simple moving average of C$28.62. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06.

Insider Transactions at Strathcona Resources

In other Strathcona Resources news, Senior Officer Dale George Babiak acquired 6,410 shares of the company’s stock in a transaction on Monday, January 13th. The stock was acquired at an average price of C$31.50 per share, for a total transaction of C$201,915.00. Also, Senior Officer Allan Grabas acquired 8,802 shares of the company’s stock in a transaction on Monday, March 10th. The stock was acquired at an average price of C$27.47 per share, with a total value of C$241,790.94. In the last 90 days, insiders purchased 18,850 shares of company stock worth $548,769. 91.34% of the stock is owned by 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.