Strathcona Resources (TSE:SCR) Rating Lowered to “Hold” at Atb Cap Markets

Strathcona Resources (TSE:SCR) was downgraded by research analysts at Atb Cap Markets from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

SCR has been the topic of several other reports. Jefferies Financial Group lifted their price target on Strathcona Resources from C$30.00 to C$32.00 in a research report on Monday. ATB Capital boosted their target price on shares of Strathcona Resources from C$37.00 to C$38.00 in a report on Friday, November 15th. Scotiabank upped their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. TD Securities lifted their price target on shares of Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. Finally, Royal Bank of Canada upped their price objective on shares of Strathcona Resources from C$34.00 to C$36.00 in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$36.38.

Strathcona Resources Stock Performance

Strathcona Resources stock opened at C$27.31 on Wednesday. Strathcona Resources has a fifty-two week low of C$21.35 and a fifty-two week high of C$37.69. The stock’s 50 day simple moving average is C$29.43 and its two-hundred day simple moving average is C$30.24. The company has a debt-to-equity ratio of 50.29, a quick ratio of 11.09 and a current ratio of 0.53. The stock has a market cap of C$5.85 billion and a price-to-earnings ratio of 6.35.

Insiders Place Their Bets

In related news, Director Navjeet Dhillon bought 3,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of C$32.56 per share, with a total value of C$97,668.00. 91.34% of the stock is owned by 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.