TD Securities Cuts Strathcona Resources (TSE:SCR) Price Target to C$30.00

Strathcona Resources (TSE:SCR) had its price objective reduced by equities research analysts at TD Securities from C$34.00 to C$30.00 in a report issued on Tuesday, BayStreet.CA reports. TD Securities’ target price suggests a potential upside of 8.81% from the stock’s current price.

A number of other brokerages have also issued reports on SCR. Royal Bank of Canada dropped their price target on shares of Strathcona Resources from C$37.00 to C$34.00 in a research note on Tuesday, September 17th. Jefferies Financial Group lowered their target price on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a research note on Monday, September 16th. Standpoint Research boosted their target price on shares of Strathcona Resources from C$40.00 to C$42.00 in a research note on Thursday, July 11th. Finally, Scotiabank upgraded shares of Strathcona Resources to a “strong-buy” rating in a research note on Friday, June 14th. Four 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. Based on data from MarketBeat.com, Strathcona Resources currently has an average rating of “Moderate Buy” and a consensus target price of C$34.25.

Strathcona Resources Trading Up 2.3 %

SCR stock traded up C$0.62 during midday trading on Tuesday, reaching C$27.57. 29,504 shares of the company’s stock traded hands, compared to its average volume of 40,859. The company has a market capitalization of C$5.91 billion and a P/E ratio of 6.41. The business has a 50-day moving average price of C$29.84 and a two-hundred day moving average price of C$31.25. Strathcona Resources has a fifty-two week low of C$20.16 and a fifty-two week high of C$37.69. The company has a debt-to-equity ratio of 50.29, a current ratio of 0.53 and a quick ratio of 11.09.

Strathcona Resources (TSE:SCR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C$1.43 earnings per share (EPS) for the quarter. The company had revenue of C$992.90 million for the quarter, compared to analyst estimates of C$978.00 million. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. Equities research analysts forecast that Strathcona Resources will post 2.8503055 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Scott Seipert acquired 5,000 shares of Strathcona Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of C$30.50 per share, with a total value of C$152,500.00. In related news, Director Navjeet Dhillon acquired 3,455 shares of the business’s stock in a transaction on Monday, August 19th. The shares were 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 acquired 5,000 shares of the business’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. Corporate 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.