Strathcona Resources (TSE:SCR) Upgraded at Scotiabank

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

A number of other equities research analysts have also recently weighed in on SCR. CIBC lifted their price objective on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, January 17th. Atb Cap Markets lowered shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. TD Securities reduced their price target on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a research report on Thursday, March 6th. 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, December 16th. Finally, Royal Bank of Canada decreased their price target on shares of 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. Four equities 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$35.50.

Strathcona Resources Stock Performance

TSE:SCR opened at C$28.97 on Wednesday. Strathcona Resources has a fifty-two week low of C$22.75 and a fifty-two week high of C$37.69. 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 company has a 50 day moving average price of C$27.59 and a 200 day moving average price of C$28.62. The stock has a market capitalization of C$6.20 billion and a P/E ratio of 16.71.

Insider Buying and Selling

In other Strathcona Resources news, Director Connie De Ciancio purchased 3,358 shares of Strathcona Resources stock in a transaction that occurred on Tuesday, December 24th. The stock was purchased at an average price of C$28.77 per share, for a total transaction of C$96,609.66. Also, Senior Officer Allan Grabas acquired 8,802 shares of the stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of C$27.47 per share, for a total transaction of C$241,790.94. Insiders acquired a total of 18,850 shares of company stock worth $548,769 over the last 90 days. 91.34% of the stock is owned by 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.