ATB Cormark Capital Markets Issues Positive Forecast for Strathcona Resources (TSE:SCR) Stock Price

Key Points

• ATB Cormark raised Strathcona Resources’ price target from C$46 to C$50 while maintaining a “sector perform” rating, implying 16.71% potential upside from the previous close.
• Analyst sentiment remains positive but mixed: National Bank Financial cut its target to C$62 but kept an “outperform” rating, while the broader consensus is “Moderate Buy” with a C$45 target price.
• Strathcona shares closed at C$42.84 after falling C$0.76; the company recently reported C$1.76 in quarterly EPS on C$1.40 billion in revenue, with analysts expecting C$2.85 EPS for the full fiscal year.

Strathcona Resources (TSE:SCR - Get Free Report) had its price objective upped by analysts at ATB Cormark Capital Markets from C$46.00 to C$50.00 in a research report issued on Thursday, BayStreet reports. The firm presently has a "sector perform" rating on the stock. ATB Cormark Capital Markets's target price points to a potential upside of 16.71% from the company's previous close.

Separately, National Bank Financial decreased their price target on Strathcona Resources from C$63.00 to C$62.00 and set an "outperform" rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$45.00.

Strathcona Resources Price Performance

Shares of TSE:SCR traded down C$0.76 on Thursday, reaching C$42.84. 1,355,799 shares of the company traded hands, compared to its average volume of 435,702. The stock has a market capitalization of C$9.18 billion, a PE ratio of 10.87, a P/E/G ratio of -2.02 and a beta of -0.16. The company has a debt-to-equity ratio of 43.82, a current ratio of 0.43 and a quick ratio of 11.09. The company's 50 day moving average is C$42.23 and its 200-day moving average is C$41.84. Strathcona Resources has a fifty-two week low of C$25.79 and a fifty-two week high of C$51.70.

Strathcona Resources (TSE:SCR - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$1.76 earnings per share (EPS) for the quarter. The business had revenue of C$1.40 billion for the quarter. Strathcona Resources had a return on equity of 17.02% and a net margin of 19.41%. As a group, analysts anticipate that Strathcona Resources will post 2.85 earnings per share for the current fiscal year.

About Strathcona Resources

Strathcona is one of North America's fastest growing pure play heavy oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life assets. The Company has three operations, including Cold Lake, Lloydminster Thermal and Lloydminster Conventional. Strathcona is a major producer in the Cold Lake region of Alberta. Our operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from best-in-class steam-assisted gravity drainage (SAGD) oil assets.

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