CIBC Boosts Strathcona Resources (TSE:SCR) Price Target to C$37.00

Strathcona Resources (TSE:SCR) had its price target raised by research analysts at CIBC from C$35.00 to C$37.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 27.76% from the company’s current price.

SCR has been the subject of a number of other research reports. TD Securities upped their price objective on shares of Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. Atb Cap Markets cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Scotiabank upped their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, November 15th. Royal Bank of Canada dropped their price objective on shares of Strathcona Resources from C$36.00 to C$35.00 in a research note on Tuesday. Finally, Jefferies Financial Group increased their price target on shares of Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$35.88.

Strathcona Resources Stock Performance

TSE SCR traded down C$0.39 on Friday, reaching C$28.96. 18,320 shares of the company’s stock traded hands, compared to its average volume of 27,782. The firm has a market cap of C$6.20 billion and a price-to-earnings ratio of 6.73. The stock has a 50 day moving average price of C$30.45 and a 200-day moving average price of C$29.93. Strathcona Resources has a fifty-two week low of C$22.45 and a fifty-two week high of C$37.69. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53.

Insider Transactions at Strathcona Resources

In related news, Director Navjeet Dhillon acquired 3,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of C$32.56 per share, for a total transaction of C$97,668.00. Also, Senior Officer Pit Kim Chiu acquired 1,600 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was bought at an average price of C$28.05 per share, for a total transaction of C$44,887.04. In the last three months, insiders have purchased 14,648 shares of company stock worth $449,533. 91.34% of the stock is currently owned by insiders.

About Strathcona Resources

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.