Strathcona Resources (TSE:SCR) Sets New 12-Month High – Here’s Why

Strathcona Resources Ltd. (TSE:SCR)’s stock price hit a new 52-week high on Friday . The stock traded as high as C$34.46 and last traded at C$34.15, with a volume of 266964 shares traded. The stock had previously closed at C$32.73.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Strathcona Resources from C$40.00 to C$35.00 and set a “moderate buy” rating for the company in a research report on Tuesday, January 13th. ATB Cormark Capital Markets dropped their price objective on Strathcona Resources from C$42.00 to C$32.00 in a report on Tuesday, December 23rd. 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. Scotiabank reduced their target price on Strathcona Resources from C$40.00 to C$33.00 in a report on Tuesday, December 30th. Finally, National Bank Financial upgraded Strathcona Resources from a “hold” rating to an “outperform” rating and decreased their target price for the stock from C$36.00 to C$32.00 in a research report on Friday, January 9th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$32.43.

Strathcona Resources Price Performance

The company’s fifty day moving average price is C$28.04 and its two-hundred day moving average price is C$34.74. The company has a quick ratio of 11.09, a current ratio of 1.02 and a debt-to-equity ratio of 19.43. The company has a market cap of C$7.31 billion, a price-to-earnings ratio of 6.66, a PEG ratio of -2.02 and a beta of 2.61.

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.