Strathcona Resources (TSE:SCR) Price Target Raised to C$49.00

Strathcona Resources (TSE:SCR) had its target price raised by analysts at Royal Bank Of Canada from C$36.00 to C$49.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 22.29% from the company’s previous close.

A number of other brokerages also recently weighed in on SCR. Scotiabank dropped their price objective on Strathcona Resources from C$40.00 to C$33.00 in a research report on Tuesday, December 30th. National Bank Financial raised their price objective on Strathcona Resources from C$41.00 to C$69.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Roth Mkm set a C$40.00 price objective on Strathcona Resources and gave the company a “buy” rating in a research report on Tuesday, March 10th. ATB Cormark Capital Markets dropped their price objective on Strathcona Resources from C$42.00 to C$32.00 in a research report on Tuesday, December 23rd. Finally, Jefferies Financial Group dropped their price objective on Strathcona Resources from C$29.00 to C$26.00 in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$38.38.

Strathcona Resources Stock Down 6.8%

Shares of Strathcona Resources stock traded down C$2.92 during trading on Wednesday, hitting C$40.07. 374,414 shares of the stock traded hands, compared to its average volume of 385,563. The firm has a market cap of C$8.58 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of -2.02 and a beta of 2.61. The company has a current ratio of 0.37, a quick ratio of 11.09 and a debt-to-equity ratio of 49.94. Strathcona Resources has a 52-week low of C$22.75 and a 52-week high of C$45.09. The stock’s fifty day simple moving average is C$33.63 and its 200 day simple moving average is C$35.02.

About Strathcona Resources

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.