Strathcona Resources (TSE:SCR) PT Lowered to C$34.00

Strathcona Resources (TSE:SCR) had its target price cut by Royal Bank of Canada from C$37.00 to C$34.00 in a report released on Tuesday, BayStreet.CA reports. Royal Bank of Canada’s price target would indicate a potential upside of 22.74% from the stock’s current price.

SCR has been the subject of a number of other reports. Jefferies Financial Group dropped 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 note on Monday. Scotiabank raised shares of Strathcona Resources to a “strong-buy” rating in a research note on Friday, June 14th. Finally, Standpoint Research boosted their price target on shares of Strathcona Resources from C$40.00 to C$42.00 in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$34.25.

Strathcona Resources Price Performance

Shares of TSE SCR traded down C$0.09 during trading on Tuesday, reaching C$27.70. The company had a trading volume of 16,402 shares, compared to its average volume of 41,108. Strathcona Resources has a 52 week low of C$20.16 and a 52 week high of C$37.69. The stock has a market cap of C$5.93 billion and a PE ratio of 6.44. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. The business’s 50 day moving average price is C$30.74 and its 200-day moving average price is C$31.17.

Strathcona Resources (TSE:SCR) last announced its earnings results on Tuesday, August 13th. The company reported C$1.43 earnings per share for the quarter. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. The company had revenue of C$992.90 million during the quarter, compared to the consensus estimate of C$978.00 million. Analysts expect that Strathcona Resources will post 4.0757143 earnings per share for the current year.

Insider Buying and Selling at Strathcona Resources

In other news, Director Navjeet Dhillon bought 3,455 shares of the stock in a transaction on Monday, August 19th. The stock was purchased at an average price of C$31.75 per share, with a total value of C$109,696.25. In related news, Director Navjeet Dhillon purchased 3,455 shares of Strathcona Resources stock in a transaction dated Monday, August 19th. The stock was bought at an average price of C$31.75 per share, for a total transaction of C$109,696.25. Also, Senior Officer Scott Seipert purchased 5,000 shares of Strathcona Resources stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of C$30.50 per share, with a total value of C$152,500.00. Insiders own 91.34% of the company’s stock.

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.