ATB Capital Forecasts Strong Price Appreciation for Strathcona Resources (TSE:SCR) Stock

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

SCR has been the subject of a number of other reports. Scotiabank boosted their price objective on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday. TD Securities lifted their price objective on shares of Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday. Royal Bank of Canada upped their target price on shares of Strathcona Resources from C$34.00 to C$36.00 in a research note on Friday. 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 for the company in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Strathcona Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of C$36.13.

Strathcona Resources Stock Down 0.3 %

TSE SCR traded down C$0.11 during mid-day trading on Friday, reaching C$32.39. The stock had a trading volume of 42,067 shares, compared to its average volume of 40,224. The stock has a market cap of C$6.94 billion and a PE ratio of 7.57. Strathcona Resources has a 1 year low of C$20.16 and a 1 year high of C$37.69. The company has a debt-to-equity ratio of 50.29, a current ratio of 0.53 and a quick ratio of 11.09. The company has a fifty day moving average price of C$27.95 and a 200 day moving average price of C$30.61.

Strathcona Resources (TSE:SCR) last posted its earnings results on Tuesday, August 13th. The company reported C$1.43 EPS for the quarter. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. The business had revenue of C$992.90 million during the quarter, compared to the consensus estimate of C$978.00 million. On average, research analysts expect that Strathcona Resources will post 2.8494405 earnings per share for the current year.

Insider Activity at Strathcona Resources

In other Strathcona Resources news, Senior Officer Scott Seipert acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of C$30.50 per share, with a total value of C$152,500.00. Also, Director Navjeet Dhillon bought 3,455 shares of the business’s stock in a transaction on Monday, August 19th. The stock was purchased at an average cost 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.