Strathcona Resources (TSE:SCR) Stock Price Expected to Rise, CIBC Analyst Says

Strathcona Resources (TSE:SCR) had its price target upped by analysts at CIBC from C$35.00 to C$37.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 27.76% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. ATB Capital increased their price objective on shares of Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. Scotiabank increased their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. Jefferies Financial Group increased their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. TD Securities increased their price objective on shares of Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. Finally, Royal Bank of Canada dropped their price objective on shares of Strathcona Resources from C$36.00 to C$35.00 in a research report on Tuesday. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Strathcona Resources presently has an average rating of “Moderate Buy” and an average target price of C$35.88.

Strathcona Resources Stock Down 1.3 %

Strathcona Resources stock traded down C$0.39 during mid-day trading on Friday, reaching C$28.96. 18,320 shares of the company’s stock were exchanged, compared to its average volume of 27,782. The company has a market cap of C$6.20 billion and a P/E ratio of 6.73. Strathcona Resources has a twelve month low of C$22.45 and a twelve month high of C$37.69. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29. The company has a fifty day moving average of C$30.45 and a 200-day moving average of C$29.93.

Insider Transactions at Strathcona Resources

In related news, Senior Officer Dale George Babiak acquired 6,410 shares of Strathcona Resources stock in a transaction that occurred on Monday, January 13th. The stock was purchased at an average price of C$31.50 per share, for a total transaction of C$201,915.00. Also, Director Navjeet Dhillon acquired 3,000 shares of Strathcona Resources 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 quarter, insiders bought 14,648 shares of company stock worth $449,533. Company 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.