Strathcona Resources (TSE:SCR) PT Lowered to C$34.00

Strathcona Resources (TSE:SCR) had its target price reduced by equities researchers at Royal Bank of Canada from C$37.00 to C$34.00 in a research report issued on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 22.74% from the company’s previous close.

Several other brokerages also recently commented on SCR. Scotiabank upgraded shares of Strathcona Resources to a “strong-buy” rating in a report on Friday, June 14th. Standpoint Research raised their price target on shares of Strathcona Resources from C$40.00 to C$42.00 in a research report on Thursday, July 11th. Finally, Jefferies Financial Group decreased their price target on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$34.25.

Strathcona Resources Stock Down 0.3 %

Shares of Strathcona Resources stock traded down C$0.09 during midday trading on Tuesday, reaching C$27.70. 16,402 shares of the company’s stock traded hands, compared to its average volume of 41,108. The company has a market cap of C$5.93 billion and a price-to-earnings ratio of 6.44. The company’s 50 day simple moving average is C$30.74 and its 200 day simple moving average is C$31.17. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. Strathcona Resources has a 52 week low of C$20.16 and a 52 week high of C$37.69.

Strathcona Resources (TSE:SCR) last released its quarterly earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share for the quarter. The business had revenue of C$992.90 million for 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%. Equities analysts expect that Strathcona Resources will post 4.0757143 earnings per share for the current fiscal year.

Insider Activity

In other Strathcona Resources news, Director Navjeet Dhillon bought 3,455 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of C$31.75 per share, for a total transaction of C$109,696.25. In other news, Director Navjeet Dhillon purchased 3,455 shares of Strathcona Resources stock in a transaction on Monday, August 19th. The shares were purchased at an average cost 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 Strathcona Resources stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of C$30.50 per share, for a total transaction of C$152,500.00. 91.34% of the stock is 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.