Strathcona Resources (TSE:SCR) Sets New 1-Year High - Here's Why

Key Points

• Strathcona Resources (TSE:SCR) reached a new 52-week high of C$39.92 on Thursday and last traded at C$39.80 on volume of 289,171 shares.
• Analyst sentiment is mixed but mildly positive — four Buy and three Hold ratings yield a consensus of Moderate Buy with a consensus target price of C$33.38, even as several firms recently trimmed targets.
• The company has a market cap of C$8.53 billion and a P/E of 7.77, and operates thermal oil, enhanced oil recovery (EOR) and Montney liquids-rich gas assets focused on heavy oil and SAGD projects.

Strathcona Resources Ltd. (TSE:SCR - Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as C$39.92 and last traded at C$39.80, with a volume of 289171 shares changing hands. The stock had previously closed at C$38.67.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SCR. National Bank Financial raised Strathcona Resources from a "hold" rating to an "outperform" rating and lowered their price target for the company from C$36.00 to C$32.00 in a report on Friday, January 9th. Roth Mkm set a C$40.00 target price on Strathcona Resources and gave the stock a "buy" rating in a report on Tuesday. ATB Cormark Capital Markets cut their price target on shares of Strathcona Resources from C$42.00 to C$32.00 in a report on Tuesday, December 23rd. Scotiabank reduced their price objective on Strathcona Resources from C$40.00 to C$33.00 in a research note on Tuesday, December 30th. Finally, Jefferies Financial Group dropped their price target on Strathcona Resources from C$29.00 to C$26.00 in a research note on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$33.38.

Strathcona Resources Stock Performance

The stock has a market cap of C$8.53 billion, a P/E ratio of 7.77, a P/E/G ratio of -2.02 and a beta of 2.61. The firm has a 50 day moving average of C$28.53 and a two-hundred day moving average of C$34.71. The company has a debt-to-equity ratio of 19.43, a quick ratio of 11.09 and a current ratio of 1.02.

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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