Royal Bank of Canada Has Lowered Expectations for Strathcona Resources (TSE:SCR) Stock Price

Strathcona Resources (TSE:SCR) had its price target decreased by equities researchers at Royal Bank of Canada from C$36.00 to C$35.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price target would suggest a potential upside of 15.21% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Scotiabank raised their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, November 15th. TD Securities upped their price objective on shares of Strathcona Resources from C$30.00 to C$31.00 in a research report on Friday, November 15th. Atb Cap Markets lowered Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Jefferies Financial Group raised their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. Finally, 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. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$36.25.

Strathcona Resources Stock Performance

TSE:SCR traded down C$0.78 during mid-day trading on Tuesday, reaching C$30.38. 36,216 shares of the company’s stock were exchanged, compared to its average volume of 29,184. 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 firm has a market capitalization of C$6.51 billion and a PE ratio of 7.07. The business’s fifty day simple moving average is C$30.37 and its two-hundred day simple moving average is C$29.97. Strathcona Resources has a one year low of C$22.45 and a one year high of C$37.69.

Insider Activity

In other news, Senior Officer Pit Kim Chiu bought 1,600 shares of Strathcona Resources stock in a transaction dated Friday, December 20th. The stock was purchased at an average price of C$28.05 per share, for a total transaction of C$44,887.04. Also, Director Navjeet Dhillon bought 3,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of C$32.56 per share, for a total transaction of C$97,668.00. Insiders bought a total of 14,368 shares of company stock worth $441,080 in the last three months. Company insiders own 91.34% of the company’s stock.

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.