Strathcona Resources (TSE:SCR) Given New C$33.00 Price Target at Scotiabank

Strathcona Resources (TSE:SCR) had its target price dropped by equities researchers at Scotiabank from C$40.00 to C$33.00 in a research note issued on Wednesday,BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 13.21% from the company’s current price.

Several other analysts have also recently commented on the stock. National Bankshares decreased their price target on shares of Strathcona Resources from C$38.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 22nd. ATB Capital dropped their price target on Strathcona Resources from C$42.00 to C$32.00 in a research note on Tuesday. Natl Bk Canada cut Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Royal Bank Of Canada upped their price objective on Strathcona Resources from C$36.00 to C$40.00 and gave the stock a “sector perform” rating in a report on Thursday, October 16th. Finally, Jefferies Financial Group raised their target price on shares of Strathcona Resources from C$34.00 to C$38.00 in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$35.43.

Strathcona Resources Price Performance

Shares of SCR stock traded up C$0.15 during mid-day trading on Wednesday, hitting C$29.15. The company had a trading volume of 81,547 shares, compared to its average volume of 79,585. 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 stock’s 50 day moving average price is C$39.68 and its 200-day moving average price is C$36.42. Strathcona Resources has a 52-week low of C$22.75 and a 52-week high of C$45.09. The company has a market capitalization of C$6.24 billion, a P/E ratio of 5.69, a P/E/G ratio of -2.02 and a beta of 2.61.

Strathcona Resources Company Profile

Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties.