Strathcona Resources (TSE:SCR) Price Target Raised to C$40.00 at Scotiabank

Key Points

• Scotiabank raised its price target for Strathcona Resources from C$34.00 to C$40.00, indicating a potential upside of 8.78% from the stock's previous close and maintaining an "outperform" rating.
• National Bankshares downgraded its rating on Strathcona Resources from "outperform" to "sector perform," lowering its price target from C$42.00 to C$38.00.
• Strathcona Resources' stock currently trades at C$36.77, with a market capitalization of C$7.88 billion, and has seen a significant trading volume increase compared to its average.

Strathcona Resources (TSE:SCR - Get Free Report) had its target price increased by Scotiabank from C$34.00 to C$40.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Scotiabank's price objective indicates a potential upside of 8.78% from the stock's previous close.

SCR has been the subject of a number of other research reports. National Bankshares downgraded shares of Strathcona Resources from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from C$42.00 to C$38.00 in a report on Tuesday. National Bank Financial upgraded shares of Strathcona Resources to a "strong-buy" rating in a report on Sunday, June 29th. Cibc World Mkts downgraded shares of Strathcona Resources from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Finally, ATB Capital increased their price objective on shares of Strathcona Resources from C$32.00 to C$35.00 and gave the company a "sector perform" rating in a report on Tuesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$34.71.

Strathcona Resources Price Performance

Strathcona Resources stock traded up C$1.38 during midday trading on Tuesday, reaching C$36.77. The company had a trading volume of 150,273 shares, compared to its average volume of 68,276. The company has a market capitalization of C$7.88 billion, a P/E ratio of 11.04, 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 firm's fifty day simple moving average is C$36.96 and its 200-day simple moving average is C$31.84. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09.

About Strathcona Resources

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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