Scotiabank Forecasts Strong Price Appreciation for Strathcona Resources (TSE:SCR) Stock

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

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group dropped their target price 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. Royal Bank of Canada cut their target price on shares of Strathcona Resources from C$37.00 to C$34.00 in a report on Tuesday, September 17th. Finally, TD Securities upped their target price on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$36.13.

Strathcona Resources Price Performance

Shares of TSE SCR opened at C$32.21 on Friday. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. The company has a market capitalization of C$6.90 billion and a price-to-earnings ratio of 7.49. Strathcona Resources has a twelve month low of C$20.16 and a twelve month high of C$37.69. The business has a 50 day simple moving average of C$28.01 and a 200-day simple moving average of C$30.61.

Insider Transactions at Strathcona Resources

In related news, Director Navjeet Dhillon bought 3,455 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of C$31.75 per share, for a total transaction of C$109,696.25. Also, Senior Officer Scott Seipert purchased 5,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of C$30.50 per share, for a total transaction of C$152,500.00. Over the last three months, insiders acquired 11,455 shares of company stock worth $359,864. Company insiders own 91.34% of the company’s stock.

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.