Strathcona Resources (TSE:SCR) Price Target Increased to C$40.00 by Analysts at CIBC

Strathcona Resources (TSE:SCR) had its price objective raised by CIBC from C$35.00 to C$40.00 in a research report released on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on SCR. BMO Capital Markets upped their price target on shares of Strathcona Resources from C$25.00 to C$33.00 in a research note on Thursday, March 28th. Royal Bank of Canada upped their target price on shares of Strathcona Resources from C$31.00 to C$38.00 in a research note on Tuesday, April 9th. Jefferies Financial Group raised their price target on shares of Strathcona Resources from C$26.00 to C$36.00 and gave the company a hold rating in a research report on Friday, April 12th. ATB Capital set a C$31.00 price objective on Strathcona Resources and gave the company an outperform rating in a research report on Thursday, February 1st. Finally, Scotiabank cut their target price on Strathcona Resources from C$40.00 to C$32.00 and set a sector perform rating on the stock in a research note on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of C$34.57.

Strathcona Resources Price Performance

SCR stock opened at C$33.38 on Monday. The company has a debt-to-equity ratio of 58.40, a quick ratio of 11.09 and a current ratio of 0.42. The firm has a 50 day moving average price of C$28.67 and a 200-day moving average price of C$25.74. Strathcona Resources has a 52-week low of C$20.16 and a 52-week high of C$34.98. The firm has a market capitalization of C$7.15 billion and a price-to-earnings ratio of -15.21.

Strathcona Resources (TSE:SCR) last announced its quarterly earnings data on Tuesday, March 26th. The company reported C$1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.32 by C($0.09). Strathcona Resources had a net margin of 13.63% and a return on equity of 12.32%. The company had revenue of C$1.29 billion for the quarter, compared to analysts’ expectations of C$869.00 million. Equities research analysts forecast that Strathcona Resources will post 4.4259502 EPS for the current fiscal year.

Insider Activity at Strathcona Resources

In related news, Director Robert J. Morgan bought 2,993 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were bought at an average price of C$34.20 per share, for a total transaction of C$102,360.60. 8.01% 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.