TD Securities Cuts Strathcona Resources (TSE:SCR) Price Target to C$30.00

Strathcona Resources (TSE:SCR) had its price objective decreased by TD Securities from C$34.00 to C$30.00 in a report issued on Tuesday, BayStreet.CA reports. TD Securities’ target price points to a potential upside of 8.81% from the stock’s previous close.

Several other analysts also recently commented on SCR. Standpoint Research upped their price target on shares of Strathcona Resources from C$40.00 to C$42.00 in a research report on Thursday, July 11th. Jefferies Financial Group dropped their price objective on shares of Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Scotiabank raised shares of Strathcona Resources to a “strong-buy” rating in a research note on Friday, June 14th. Finally, Royal Bank of Canada lowered their price target on shares of Strathcona Resources from C$37.00 to C$34.00 in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Strathcona Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of C$34.25.

Strathcona Resources Stock Up 2.3 %

Shares of TSE:SCR traded up C$0.62 during trading on Tuesday, hitting C$27.57. 29,504 shares of the company were exchanged, compared to its average volume of 40,859. The stock has a market capitalization of C$5.91 billion and a P/E ratio of 6.41. The company has a debt-to-equity ratio of 50.29, a current ratio of 0.53 and a quick ratio of 11.09. Strathcona Resources has a 12-month low of C$20.16 and a 12-month high of C$37.69. The firm’s 50 day moving average price is C$29.84 and its 200-day moving average price is C$31.25.

Strathcona Resources (TSE:SCR) last issued its quarterly earnings data on Tuesday, August 13th. The company reported C$1.43 earnings per share for the quarter. The business had revenue of C$992.90 million during the quarter, compared to the consensus estimate of C$978.00 million. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. On average, research analysts predict that Strathcona Resources will post 2.8503055 earnings per share for the current fiscal year.

Insider Buying and Selling at Strathcona Resources

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

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.