Strathcona Resources (TSE:SCR) Stock Rating Upgraded by Scotiabank

Strathcona Resources (TSE:SCR) was upgraded by analysts at Scotiabank to a “strong-buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

Other analysts have also issued research reports about the company. CIBC boosted their price target on Strathcona Resources from C$35.00 to C$40.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. TD Securities boosted their price objective on shares of Strathcona Resources from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research note on Thursday, May 16th. BMO Capital Markets boosted their price objective on shares of Strathcona Resources from C$33.00 to C$35.00 in a research note on Wednesday, May 15th. Royal Bank of Canada boosted their price objective on shares of Strathcona Resources from C$31.00 to C$38.00 in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group boosted their price objective on shares of Strathcona Resources from C$26.00 to C$36.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$34.57.

Strathcona Resources Stock Up 0.0 %

Shares of TSE:SCR opened at C$31.10 on Friday. The company has a current ratio of 0.42, a quick ratio of 11.09 and a debt-to-equity ratio of 58.40. Strathcona Resources has a 12 month low of C$20.16 and a 12 month high of C$37.69. The company has a 50-day moving average price of C$33.05 and a 200 day moving average price of C$27.43. The company has a market cap of C$6.66 billion and a price-to-earnings ratio of -14.18.

Strathcona Resources (TSE:SCR) last announced its earnings results on Tuesday, May 14th. The company reported C$0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.89 by C$0.09. Strathcona Resources had a return on equity of 12.32% and a net margin of 13.85%. The business had revenue of C$1.14 billion during the quarter, compared to analyst estimates of C$795.00 million. As a group, equities research analysts predict that Strathcona Resources will post 4.2663438 earnings per share for the current year.

Insider Transactions at Strathcona Resources

In other news, Director Robert J. Morgan bought 2,993 shares of the stock in a transaction dated Monday, April 15th. The shares were acquired at an average cost of C$34.20 per share, with a total value of C$102,360.60. Corporate insiders own 91.84% of the company’s stock.

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.