ATB Capital Issues Positive Forecast for Strathcona Resources (TSE:SCR) Stock Price

Strathcona Resources (TSE:SCR) had its price target boosted by equities research analysts at ATB Capital from C$37.00 to C$38.00 in a report released on Friday,BayStreet.CA reports. ATB Capital’s target price points to a potential upside of 17.32% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Scotiabank upped their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday. Royal Bank of Canada boosted their target price on shares of Strathcona Resources from C$34.00 to C$36.00 in a research note on Friday. TD Securities raised their price target on shares of Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday. Finally, Jefferies Financial Group lowered 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 report on Monday, September 16th. Three equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$36.13.

Strathcona Resources Stock Down 0.3 %

SCR traded down C$0.11 during midday trading on Friday, hitting C$32.39. The company had a trading volume of 42,067 shares, compared to its average volume of 40,224. The company has a market capitalization of C$6.94 billion and a price-to-earnings ratio of 7.57. The stock’s 50 day moving average price is C$27.95 and its 200 day moving average price is C$30.61. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29. 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 announced its quarterly earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share (EPS) for the quarter. Strathcona Resources had a return on equity of 12.32% and a net margin of 11.62%. The business had revenue of C$992.90 million for the quarter, compared to analyst estimates of C$978.00 million. On average, research analysts anticipate that Strathcona Resources will post 2.8494405 earnings per share for the current fiscal year.

Insider Activity at Strathcona Resources

In other news, Senior Officer Scott Seipert bought 5,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$30.50 per share, for a total transaction of C$152,500.00. Also, Director Navjeet Dhillon purchased 3,455 shares of the company’s stock in a transaction that occurred 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. 91.34% of the stock is owned by corporate 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.