Strathcona Resources (TSE:SCR) Cut to Hold at Atb Cap Markets

Strathcona Resources (TSE:SCR) was downgraded by Atb Cap Markets from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on SCR. Royal Bank of Canada upped their price objective on Strathcona Resources from C$34.00 to C$36.00 in a research report on Friday, November 15th. ATB Capital upped their price target on Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. Jefferies Financial Group lifted their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday. Scotiabank boosted their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. Finally, TD Securities raised their target price on shares of Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$36.38.

Strathcona Resources Price Performance

Shares of TSE SCR opened at C$27.31 on Wednesday. The company has a fifty day moving average price of C$29.43 and a 200 day moving average price of C$30.24. The firm has a market cap of C$5.85 billion and a PE ratio of 6.35. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 50.29. Strathcona Resources has a 1-year low of C$21.35 and a 1-year high of C$37.69.

Insiders Place Their Bets

In other Strathcona Resources news, Director Navjeet Dhillon acquired 3,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were purchased at an average price of C$32.56 per share, for a total transaction of C$97,668.00. 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.