Strathcona Resources (TSE:SCR) Upgraded to “Strong-Buy” at Scotiabank

Strathcona Resources (TSE:SCR) was upgraded by stock analysts at Scotiabank to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages have also weighed in on SCR. Jefferies Financial Group upped their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. TD Securities dropped their price objective on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Atb Cap Markets downgraded Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Royal Bank of Canada dropped their price target on Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating for the company in a research report on Thursday, March 6th. Finally, CIBC boosted their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$35.50.

Strathcona Resources Stock Performance

TSE:SCR opened at C$28.97 on Wednesday. The firm’s fifty day simple moving average is C$27.59 and its 200-day simple moving average is C$28.62. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06. The stock has a market cap of C$6.20 billion and a PE ratio of 16.71. Strathcona Resources has a fifty-two week low of C$22.75 and a fifty-two week high of C$37.69.

Insider Activity at Strathcona Resources

In other news, Senior Officer Allan Grabas purchased 8,802 shares of the stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of C$27.47 per share, for a total transaction of C$241,790.94. Also, Director Connie De Ciancio acquired 3,358 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was purchased at an average cost of C$28.77 per share, with a total value of C$96,609.66. In the last quarter, insiders bought 18,850 shares of company stock valued at $548,769. 91.34% of the stock is owned by 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.