Strathcona Resources (TSE:SCR) Stock Price Target Lowered at National Bank Financial

Key Points

• National Bank Financial lowered Strathcona Resources’ price target to C$63 from C$67 while maintaining an “outperform” rating, implying 63.34% upside from the prior close.
• Analyst sentiment remains positive: Jefferies upgraded the stock to “buy,” and the company has an overall “Buy” consensus rating with an average target price of C$42.57.
• Strathcona reported quarterly EPS of C$1.76 on revenue of C$2.73 billion, with a 19.41% net margin and 17.02% return on equity.

Strathcona Resources (TSE:SCR - Get Free Report) had its price target reduced by research analysts at National Bank Financial from C$67.00 to C$63.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price target would suggest a potential upside of 63.34% from the stock's previous close.

Separately, Jefferies Financial Group raised Strathcona Resources from a "hold" rating to a "buy" rating and boosted their price objective for the company from C$45.00 to C$56.00 in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of C$42.57.

Strathcona Resources Trading Down 1.3%

SCR opened at C$38.57 on Wednesday. Strathcona Resources has a twelve month low of C$25.79 and a twelve month high of C$51.70. The company has a fifty day moving average of C$42.28 and a 200-day moving average of C$41.69. The stock has a market cap of C$8.26 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of -2.02 and a beta of 2.61. The company has a quick ratio of 11.09, a current ratio of 0.43 and a debt-to-equity ratio of 43.82.

Strathcona Resources (TSE:SCR - Get Free Report) last released 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$2.73 billion for the quarter. Strathcona Resources had a net margin of 19.41% and a return on equity of 17.02%. On average, sell-side analysts predict that Strathcona Resources will post 2.8494405 EPS for the current 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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