CIBC Increases Strathcona Resources (TSE:SCR) Price Target to C$37.00

Strathcona Resources (TSE:SCRGet Free Report) had its price objective raised by analysts at CIBC from C$35.00 to C$37.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 25.85% from the company’s previous close.

SCR has been the subject of a number of other reports. Atb Cap Markets downgraded Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Royal Bank of Canada dropped their price objective on Strathcona Resources from C$36.00 to C$35.00 in a research note on Tuesday, January 14th. ATB Capital lifted their price target on Strathcona Resources from C$37.00 to C$38.00 in a research note on Friday, November 15th. TD Securities boosted their target price on Strathcona Resources from C$30.00 to C$31.00 in a research note on Friday, November 15th. Finally, Scotiabank boosted their price target on Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, November 15th. Three 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 stock. According to MarketBeat.com, Strathcona Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$35.88.

View Our Latest Analysis on Strathcona Resources

Strathcona Resources Price Performance

Shares of SCR opened at C$29.40 on Friday. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29. Strathcona Resources has a fifty-two week low of C$22.45 and a fifty-two week high of C$37.69. The company has a market cap of C$6.30 billion and a P/E ratio of 6.84. The firm’s 50 day moving average price is C$30.47 and its 200 day moving average price is C$29.89.

Insider Activity

In related news, Director Connie De Ciancio bought 3,358 shares of the stock in a transaction on Tuesday, December 24th. The shares were bought at an average cost of C$28.77 per share, for a total transaction of C$96,609.66. Also, Senior Officer Dale George Babiak acquired 6,410 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were acquired at an average cost of C$31.50 per share, with a total value of C$201,915.00. Insiders have acquired 14,648 shares of company stock worth $449,533 in the last ninety days. Company insiders own 91.34% of the company’s stock.

Strathcona Resources Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Strathcona Resources (TSE:SCR)

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