Strathcona Resources (TSE:SCR) Sets New 1-Year High – Here’s Why

Strathcona Resources Ltd. (TSE:SCR)’s share price hit a new 52-week high on Thursday . The company traded as high as C$39.92 and last traded at C$39.80, with a volume of 289171 shares changing hands. The stock had previously closed at C$38.67.

Analyst Ratings Changes

SCR has been the topic of several research reports. Roth Mkm set a C$40.00 price objective on shares of Strathcona Resources and gave the stock a “buy” rating in a report on Tuesday. Royal Bank Of Canada decreased their target price on Strathcona Resources from C$40.00 to C$35.00 and set a “moderate buy” rating on the stock in a research report on Tuesday, January 13th. Scotiabank cut their price target on Strathcona Resources from C$40.00 to C$33.00 in a report on Tuesday, December 30th. National Bank Financial raised Strathcona Resources from a “hold” rating to an “outperform” rating and decreased their price objective for the stock from C$36.00 to C$32.00 in a report on Friday, January 9th. Finally, Jefferies Financial Group cut their target price on Strathcona Resources from C$29.00 to C$26.00 in a research note on Tuesday, January 20th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$33.38.

Strathcona Resources Trading Up 2.9%

The company has a 50 day moving average of C$28.53 and a 200 day moving average of C$34.71. The firm has a market cap of C$8.53 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of -2.02 and a beta of 2.61. The company has a current ratio of 1.02, a quick ratio of 11.09 and a debt-to-equity ratio of 19.43.

Strathcona Resources Company Profile

Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties.