CIBC Increases Strathcona Resources (TSE:SCR) Price Target to C$40.00

Strathcona Resources (TSE:SCR) had its price objective boosted by CIBC from C$35.00 to C$40.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective suggests a potential upside of 19.37% from the stock’s current price.

SCR has been the subject of a number of other reports. ATB Capital set a C$31.00 price target on shares of Strathcona Resources and gave the company an “outperform” rating in a research report on Thursday, February 1st. Royal Bank of Canada upped their target price on Strathcona Resources from C$31.00 to C$38.00 in a research note on Tuesday, April 9th. Jefferies Financial Group raised their price target on Strathcona Resources from C$26.00 to C$36.00 and gave the company a “hold” rating in a report on Friday, April 12th. BMO Capital Markets raised their price objective on shares of Strathcona Resources from C$25.00 to C$33.00 in a research report on Thursday, March 28th. Finally, Scotiabank cut their target price on shares of Strathcona Resources from C$40.00 to C$32.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$34.57.

Strathcona Resources Stock Up 2.4 %

SCR stock opened at C$33.51 on Monday. The stock has a 50-day simple moving average of C$28.33 and a two-hundred day simple moving average of C$25.89. Strathcona Resources has a twelve month low of C$20.16 and a twelve month high of C$34.98. The firm has a market capitalization of C$7.18 billion and a PE ratio of -15.27. The company has a quick ratio of 11.09, a current ratio of 0.42 and a debt-to-equity ratio of 58.40.

Strathcona Resources (TSE:SCR) last released its quarterly earnings data on Tuesday, March 26th. The company reported C$1.23 EPS for the quarter, missing analysts’ consensus estimates of C$1.32 by C($0.09). The firm had revenue of C$1.29 billion during the quarter, compared to the consensus estimate of C$869.00 million. Strathcona Resources had a net margin of 13.63% and a return on equity of 12.32%. On average, equities analysts predict that Strathcona Resources will post 4.4259502 EPS for the current fiscal year.

Insider Activity at Strathcona Resources

In related news, Director Robert J. Morgan purchased 2,993 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were acquired at an average cost of C$34.20 per share, with a total value of C$102,360.60. 8.01% of the stock is currently owned by company insiders.

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.