Strathcona Resources (TSE:SCR) Given New C$34.00 Price Target at Royal Bank of Canada

Strathcona Resources (TSE:SCR) had its target price decreased by investment analysts at Royal Bank of Canada from C$35.00 to C$34.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 28.84% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Scotiabank raised their target price on Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. Atb Cap Markets downgraded shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. CIBC boosted their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, January 17th. ATB Capital raised their price target on shares of Strathcona Resources from C$37.00 to C$38.00 in a research note on Friday, November 15th. Finally, Jefferies Financial Group upped their price objective on Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Strathcona Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of C$35.50.

Strathcona Resources Stock Up 7.0 %

TSE:SCR traded up C$1.72 on Thursday, hitting C$26.39. The stock had a trading volume of 120,788 shares, compared to its average volume of 48,499. The stock has a market cap of C$5.65 billion and a P/E ratio of 15.22. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53. The firm’s fifty day simple moving average is C$28.39 and its two-hundred day simple moving average is C$28.95. Strathcona Resources has a 1 year low of C$22.75 and a 1 year high of C$37.69.

Insider Transactions at Strathcona Resources

In other Strathcona Resources news, Director Connie De Ciancio acquired 3,358 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was bought at an average price of C$28.77 per share, with a total value of C$96,609.66. Also, Senior Officer Pit Kim Chiu acquired 1,600 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of C$28.05 per share, with a total value of C$44,887.04. Over the last ninety days, insiders have bought 11,648 shares of company stock valued at $351,865. 91.34% of the stock is currently owned by corporate insiders.

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.