Strathcona Resources (TSE:SCR – Get Free Report) had its price objective raised by CIBC from C$35.00 to C$40.00 in a research note issued to investors on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 22.62% from the stock’s previous close.
Several other research firms have also commented on SCR. Royal Bank of Canada upped their target price on Strathcona Resources from C$31.00 to C$38.00 in a research note on Tuesday, April 9th. BMO Capital Markets upped their price target on shares of Strathcona Resources from C$25.00 to C$33.00 in a research report on Thursday, March 28th. Jefferies Financial Group increased their target price on Strathcona Resources from C$26.00 to C$36.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Scotiabank lowered their price target on Strathcona Resources from C$40.00 to C$32.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 16th. Finally, ATB Capital set a C$31.00 price objective on Strathcona Resources and gave the stock an “outperform” rating in a report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$34.57.
View Our Latest Research Report on Strathcona Resources
Strathcona Resources Price Performance
Strathcona Resources (TSE:SCR – Get Free Report) last released its quarterly earnings data on Tuesday, March 26th. The company reported C$1.23 EPS for the quarter, missing the consensus estimate of C$1.32 by C($0.09). Strathcona Resources had a return on equity of 12.32% and a net margin of 13.63%. The business had revenue of C$1.29 billion during the quarter, compared to analysts’ expectations of C$869.00 million. Equities research analysts anticipate that Strathcona Resources will post 4.4259502 earnings per share for the current year.
Insiders Place Their Bets
In other Strathcona Resources news, Director Robert J. Morgan purchased 2,993 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were acquired at an average price of C$34.20 per share, for a total transaction of C$102,360.60. 8.01% of the stock is currently owned by company 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.
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