Strathcona Resources (TSE:SCR) Price Target Raised to C$49.00

Key Points

• Royal Bank of Canada raised its price target on Strathcona Resources to C$49.00 from C$36.00, implying roughly a 22.3% upside while keeping a "sector perform" rating.
• Analysts are mixed: three Buy and four Hold ratings result in a MarketBeat consensus of "Hold" with a consensus price target of C$38.38, and individual targets ranging about C$26 to C$69.
• Shares fell 6.8% to C$40.07 on Wednesday on near‑average volume; the company has a market cap of C$8.58 billion and trades at a P/E of 9.43.

Strathcona Resources (TSE:SCR - Get Free Report) had its target price raised by analysts at Royal Bank Of Canada from C$36.00 to C$49.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 22.29% from the company's previous close.

A number of other brokerages also recently weighed in on SCR. Scotiabank dropped their price objective on Strathcona Resources from C$40.00 to C$33.00 in a research report on Tuesday, December 30th. National Bank Financial raised their price objective on Strathcona Resources from C$41.00 to C$69.00 and gave the company an "outperform" rating in a research report on Tuesday, March 31st. Roth Mkm set a C$40.00 price objective on Strathcona Resources and gave the company a "buy" rating in a research report on Tuesday, March 10th. ATB Cormark Capital Markets dropped their price objective on Strathcona Resources from C$42.00 to C$32.00 in a research report on Tuesday, December 23rd. Finally, Jefferies Financial Group dropped their price objective on Strathcona Resources from C$29.00 to C$26.00 in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$38.38.

Strathcona Resources Stock Down 6.8%

Shares of Strathcona Resources stock traded down C$2.92 during trading on Wednesday, hitting C$40.07. 374,414 shares of the stock traded hands, compared to its average volume of 385,563. The firm has a market cap of C$8.58 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of -2.02 and a beta of 2.61. The company has a current ratio of 0.37, a quick ratio of 11.09 and a debt-to-equity ratio of 49.94. Strathcona Resources has a 52-week low of C$22.75 and a 52-week high of C$45.09. The stock's fifty day simple moving average is C$33.63 and its 200 day simple moving average is C$35.02.

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. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.