Strathcona Resources (TSE:SCR) Price Target Raised to C$69.00

Key Points

• National Bank Financial raised its price target on Strathcona Resources from C$41.00 to C$69.00 and keeps an "outperform" rating, implying roughly a 65% upside from the prior close.
• Other brokers have mostly trimmed targets, and MarketBeat's consensus is a "Hold" with a C$36.75 target; analyst coverage shows three Buys and four Holds.
• Shares traded down 3.3% to C$41.75 on Tuesday (≈320,739 shares), with a market cap of C$8.94B, a P/E of 9.82 and a 52-week range of C$22.75–C$45.09.

Strathcona Resources (TSE:SCR - Get Free Report) had its price target raised by research analysts at National Bank Financial from C$41.00 to C$69.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's target price suggests a potential upside of 65.27% from the stock's previous close.

SCR has been the subject of a number of other reports. TD Securities decreased their price objective on Strathcona Resources from C$27.00 to C$25.00 and set a "hold" rating for the company in a report on Friday, March 13th. Jefferies Financial Group cut their target price on Strathcona Resources from C$29.00 to C$26.00 in a research note on Tuesday, January 20th. Scotiabank decreased their price target on shares of Strathcona Resources from C$40.00 to C$33.00 in a research note on Tuesday, December 30th. ATB Cormark Capital Markets lowered their price objective on shares of Strathcona Resources from C$42.00 to C$32.00 in a report on Tuesday, December 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Strathcona Resources from C$35.00 to C$36.00 and gave the stock a "sector perform" rating in a research report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Strathcona Resources has a consensus rating of "Hold" and a consensus target price of C$36.75.

Strathcona Resources Trading Down 3.3%

TSE:SCR traded down C$1.43 on Tuesday, hitting C$41.75. 320,739 shares of the stock were exchanged, compared to its average volume of 384,027. The company has a debt-to-equity ratio of 49.94, a quick ratio of 11.09 and a current ratio of 0.37. Strathcona Resources has a 52 week low of C$22.75 and a 52 week high of C$45.09. The stock has a market capitalization of C$8.94 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of -2.02 and a beta of 2.61. The company's 50-day moving average price is C$31.76 and its 200 day moving average price is C$34.80.

Strathcona Resources Company Profile

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.

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