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Strathcona Resources (TSE:SCR) Price Target Raised to C$35.00 at TD Securities

Strathcona Resources logo with Energy background

Key Points

  • TD Securities has raised the price target for Strathcona Resources from C$27.00 to C$35.00 while maintaining a "hold" rating on the stock.
  • Scotiabank upgraded its target price to C$40.00 and gave Strathcona Resources an "outperform" rating, indicating positive outlook among some analysts.
  • The stock has shown resilience with a 12-month high of C$39.49, despite trading down to C$35.53 in the most recent session.
  • MarketBeat previews top five stocks to own in November.

Strathcona Resources (TSE:SCR - Get Free Report) had its target price lifted by equities research analysts at TD Securities from C$27.00 to C$35.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD Securities' price target would suggest a potential downside of 1.49% from the company's previous close.

Other equities analysts have also issued reports about the stock. Scotiabank upped their target price on shares of Strathcona Resources from C$34.00 to C$40.00 and gave the stock an "outperform" rating in a research report on Tuesday. National Bank Financial upgraded shares of Strathcona Resources to a "strong-buy" rating in a research report on Sunday, June 29th. Cibc World Mkts lowered shares of Strathcona Resources from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, National Bankshares lowered shares of Strathcona Resources from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from C$42.00 to C$38.00 in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of C$36.14.

Check Out Our Latest Analysis on Strathcona Resources

Strathcona Resources Price Performance

Strathcona Resources stock traded down C$0.81 during trading hours on Thursday, hitting C$35.53. 61,722 shares of the stock were exchanged, compared to its average volume of 68,899. 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 stock has a market capitalization of C$7.61 billion, a P/E ratio of 10.67, a P/E/G ratio of -2.02 and a beta of 2.61. Strathcona Resources has a 12 month low of C$22.75 and a 12 month high of C$39.49. The business's 50-day moving average is C$37.07 and its two-hundred day moving average is C$31.90.

About Strathcona Resources

(Get Free Report)

Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan.

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Analyst Recommendations for Strathcona Resources (TSE:SCR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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