Royal Bank of Canada Raises Strathcona Resources (TSE:SCR) Price Target to C$36.00

Strathcona Resources (TSE:SCR) had its target price boosted by stock analysts at Royal Bank of Canada from C$34.00 to C$36.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 11.77% from the stock’s previous close.

A number of other research firms have also recently issued reports on SCR. Jefferies Financial Group cut their target price 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, September 16th. Scotiabank increased their target price on Strathcona Resources from C$35.00 to C$37.00 in a report on Friday. Finally, TD Securities lifted their price target on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$36.13.

Strathcona Resources Trading Down 0.9 %

Shares of Strathcona Resources stock opened at C$32.21 on Friday. Strathcona Resources has a 12-month low of C$20.16 and a 12-month high of C$37.69. The stock has a market capitalization of C$6.90 billion and a P/E ratio of 7.49. The company has a 50-day simple moving average of C$28.01 and a 200 day simple moving average of C$30.61. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29.

Insiders Place Their Bets

In related news, Senior Officer Scott Seipert purchased 5,000 shares of Strathcona Resources stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of C$30.50 per share, for a total transaction of C$152,500.00. Also, Director Navjeet Dhillon acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of C$32.56 per share, with a total value of C$97,668.00. In the last three months, insiders bought 11,455 shares of company stock valued at $359,864. 91.34% of the stock is currently 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.