Strathcona Resources (TSE:SCR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Strathcona Resources (TSE:SCR) had its price objective hoisted by stock analysts at Royal Bank of Canada from C$34.00 to C$36.00 in a report issued on Friday,BayStreet.CA reports. Royal Bank of Canada’s price target would suggest a potential upside of 11.15% from the stock’s current price.

Several other research analysts have also recently weighed in on SCR. TD Securities upped their price target on shares of Strathcona Resources from C$30.00 to C$31.00 in a report on Friday. Scotiabank upped their target price on Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday. Finally, Jefferies Financial Group dropped their price target on Strathcona Resources from C$35.00 to C$30.00 and set a “hold” rating for the company in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$36.13.

Strathcona Resources Price Performance

SCR traded down C$0.11 during trading on Friday, reaching C$32.39. 42,067 shares of the company were exchanged, compared to its average volume of 40,224. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29. The company has a market cap of C$6.94 billion and a price-to-earnings ratio of 7.53. Strathcona Resources has a 12-month low of C$20.16 and a 12-month high of C$37.69. The company’s 50-day moving average is C$27.95 and its two-hundred day moving average is C$30.61.

Strathcona Resources (TSE:SCR) last released its quarterly earnings data on Tuesday, August 13th. The company reported C$1.43 EPS for the quarter. The company had revenue of C$992.90 million during the quarter, compared to analyst estimates of C$978.00 million. Strathcona Resources had a net margin of 11.62% and a return on equity of 12.32%. Research analysts forecast that Strathcona Resources will post 2.8494405 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Scott Seipert acquired 5,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of C$30.50 per share, for a total transaction of C$152,500.00. Also, Director Navjeet Dhillon bought 3,455 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was purchased at an average price of C$31.75 per share, for a total transaction of C$109,696.25. Insiders own 91.34% of the company’s stock.

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.