Royal Bank of Canada Lowers Strathcona Resources (TSE:SCR) Price Target to C$34.00

Strathcona Resources (TSE:SCR) had its price objective decreased by stock analysts at Royal Bank of Canada from C$35.00 to C$34.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 28.84% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on SCR. Atb Cap Markets cut Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. CIBC upped their price objective on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, January 17th. Jefferies Financial Group boosted their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. TD Securities decreased their price target on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating for the company in a report on Thursday. Finally, ATB Capital boosted their price objective on Strathcona Resources from C$37.00 to C$38.00 in a research note on Friday, November 15th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$35.50.

Strathcona Resources Stock Performance

TSE SCR traded up C$1.72 on Thursday, hitting C$26.39. 120,788 shares of the stock were exchanged, compared to its average volume of 48,499. The company has a market capitalization of C$5.65 billion and a PE ratio of 15.22. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09. The business’s fifty day moving average is C$28.39 and its 200 day moving average is C$28.95. Strathcona Resources has a 52 week low of C$22.75 and a 52 week high of C$37.69.

Insider Activity

In other Strathcona Resources news, Senior Officer Pit Kim Chiu purchased 1,600 shares of Strathcona Resources stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of C$28.05 per share, with a total value of C$44,887.04. Also, Director Connie De Ciancio purchased 3,358 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were acquired at an average price of C$28.77 per share, with a total value of C$96,609.66. Insiders bought a total of 11,648 shares of company stock worth $351,865 in the last three months. Company 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.