Strathcona Resources (TSE:SCR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Strathcona Resources (TSE:SCR - Get Free Report) had its target price raised by stock analysts at Royal Bank of Canada from C$34.00 to C$36.00 in a report released on Thursday,BayStreet.CA reports. Royal Bank of Canada's price objective suggests a potential upside of 24.91% from the company's previous close.

A number of other analysts also recently weighed in on SCR. TD Securities lowered their price target on shares of Strathcona Resources from C$32.00 to C$29.00 and set a "hold" rating for the company in a report on Thursday, March 6th. Scotiabank upgraded shares of Strathcona Resources to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, CIBC dropped their target price on shares of Strathcona Resources from C$37.00 to C$33.00 in a report on Thursday, April 10th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of C$35.29.

Strathcona Resources Trading Up 0.6%

SCR traded up C$0.18 during midday trading on Thursday, hitting C$28.82. 29,550 shares of the company were exchanged, compared to its average volume of 46,184. The firm's 50 day moving average price is C$26.79 and its 200-day moving average price is C$28.22. Strathcona Resources has a 1-year low of C$22.75 and a 1-year high of C$37.69. The firm has a market capitalization of C$6.17 billion and a P/E ratio of 16.62. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06.

Insider Activity

In other news, Senior Officer Allan Grabas bought 8,802 shares of Strathcona Resources stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of C$27.47 per share, for a total transaction of C$241,790.94. 91.34% of the stock is currently owned by company insiders.

About Strathcona Resources

Strathcona Resources Ltd. acquires, explores, develops, and produces petroleum and natural gas reserves in Canada. It operates through three segments: Cold Lake Thermal, Lloydminster Heavy Oil, and Montney. The Cold Lake Thermal segment includes three producing assets in the Cold Lake region of Northern Alberta; and Lindbergh, Orion, and Tucker.

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.