Strathcona Resources (TSE:SCR) Raised to “Strong-Buy” at Scotiabank

Scotiabank upgraded shares of Strathcona Resources (TSE:SCRFree Report) to a strong-buy rating in a research note released on Friday morning, Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. TD Securities upped their price objective on shares of Strathcona Resources from C$29.00 to C$30.00 and gave the company a hold rating in a report on Thursday, May 16th. Royal Bank of Canada increased their price target on shares of Strathcona Resources from C$31.00 to C$38.00 in a research note on Tuesday, April 9th. Jefferies Financial Group lifted their price target on shares of Strathcona Resources from C$26.00 to C$36.00 and gave the company a hold rating in a research report on Friday, April 12th. CIBC increased their price objective on Strathcona Resources from C$35.00 to C$40.00 and gave the stock an outperform rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets lifted their target price on Strathcona Resources from C$33.00 to C$35.00 in a research report on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of C$34.57.

Read Our Latest Report on Strathcona Resources

Strathcona Resources Stock Up 0.0 %

Shares of TSE SCR opened at C$31.10 on Friday. The company has a current ratio of 0.42, a quick ratio of 11.09 and a debt-to-equity ratio of 58.40. The company has a 50-day moving average of C$33.05 and a 200 day moving average of C$27.47. 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 cap of C$6.66 billion and a PE ratio of -14.18.

Strathcona Resources (TSE:SCRGet Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The company reported C$0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.09. Strathcona Resources had a return on equity of 12.32% and a net margin of 13.85%. The business had revenue of C$1.14 billion during the quarter, compared to analyst estimates of C$795.00 million. As a group, sell-side analysts predict that Strathcona Resources will post 4.2663438 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert J. Morgan bought 2,993 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average price of C$34.20 per share, with a total value of C$102,360.60. 91.84% of the stock is owned by insiders.

About Strathcona Resources

(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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