Strathcona Resources (TSE:SCR) Price Target Lowered to C$33.00 at CIBC

Strathcona Resources (TSE:SCR) had its price target reduced by analysts at CIBC from C$37.00 to C$33.00 in a research note issued to investors on Thursday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 34.47% from the stock’s previous close.

Several other research firms have also issued reports on SCR. TD Securities cut their target price on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Scotiabank raised shares of Strathcona Resources to a “strong-buy” rating in a research report on Wednesday, March 19th. Jefferies Financial Group increased their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday, December 16th. Royal Bank of Canada lowered their target price on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating for the company in a research note on Thursday, March 6th. Finally, Atb Cap Markets lowered Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Strathcona Resources presently has a consensus rating of “Moderate Buy” and an average target price of C$35.00.

Strathcona Resources Price Performance

Shares of SCR opened at C$24.54 on Thursday. The company has a debt-to-equity ratio of 56.06, a quick ratio of 11.09 and a current ratio of 0.53. The company has a 50 day moving average price of C$26.95 and a 200-day moving average price of C$28.47. Strathcona Resources has a fifty-two week low of C$22.75 and a fifty-two week high of C$37.69. The stock has a market capitalization of C$5.25 billion and a PE ratio of 14.15.

Insider Activity

In other news, Senior Officer Dale George Babiak acquired 6,410 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were acquired at an average price of C$31.50 per share, with a total value of C$201,915.00. Also, Senior Officer Allan Grabas bought 8,802 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of C$27.47 per share, with a total value of C$241,790.94. Insiders have acquired 16,212 shares of company stock valued at $467,706 in the last ninety days. Insiders own 91.34% 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.