National Bank Financial Issues Pessimistic Forecast for Strathcona Resources (TSE:SCR) Stock Price

Strathcona Resources (TSE:SCR) had its target price cut by equities research analysts at National Bank Financial from C$68.00 to C$66.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s target price would indicate a potential upside of 70.02% from the company’s current price.

Several other brokerages have also issued reports on SCR. Royal Bank Of Canada upped their target price on Strathcona Resources from C$36.00 to C$49.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. TD Securities raised shares of Strathcona Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 17th. Jefferies Financial Group raised Strathcona Resources from a “hold” rating to a “buy” rating and upped their target price for the company from C$45.00 to C$56.00 in a research report on Thursday, June 4th. Finally, Roth Capital set a C$40.00 target price on Strathcona Resources and gave the stock a “buy” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Strathcona Resources presently has a consensus rating of “Buy” and an average target price of C$43.00.

Strathcona Resources Stock Up 3.1%

Shares of TSE:SCR traded up C$1.18 during trading on Wednesday, reaching C$38.82. The stock had a trading volume of 526,513 shares, compared to its average volume of 414,160. The firm’s 50-day simple moving average is C$43.13 and its 200 day simple moving average is C$36.34. The company has a current ratio of 0.39, a quick ratio of 11.09 and a debt-to-equity ratio of 50.35. Strathcona Resources has a one year low of C$25.79 and a one year high of C$51.70. The company has a market capitalization of C$8.32 billion, a P/E ratio of 11.19, a PEG ratio of -2.02 and a beta of 2.61.

Strathcona Resources Company Profile

Strathcona is one of North America’s fastest growing pure play heavy oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life assets. The Company has three operations, including Cold Lake, Lloydminster Thermal and Lloydminster Conventional. Strathcona is a major producer in the Cold Lake region of Alberta. Our operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from best-in-class steam-assisted gravity drainage (SAGD) oil assets.