TD Securities Cuts Strathcona Resources (TSE:SCR) Price Target to C$29.00

Strathcona Resources (TSE:SCR) had its price objective lowered by research analysts at TD Securities from C$32.00 to C$29.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ price target suggests a potential upside of 9.89% from the company’s current price.

Other analysts also recently issued reports about the company. Jefferies Financial Group raised their target price on Strathcona Resources from C$30.00 to C$32.00 in a research note on Monday, December 16th. Atb Cap Markets cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Scotiabank increased their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a research note on Friday, November 15th. ATB Capital boosted their price target on Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. Finally, Royal Bank of Canada decreased their price target on Strathcona Resources from C$36.00 to C$35.00 in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$35.50.

Strathcona Resources Stock Up 7.0 %

TSE:SCR traded up C$1.72 during trading hours on Thursday, hitting C$26.39. The stock had a trading volume of 120,788 shares, compared to its average volume of 48,499. The company has a market cap of C$5.65 billion and a PE ratio of 15.22. The business has a 50 day simple moving average of C$28.39 and a two-hundred day simple moving average of C$28.95. Strathcona Resources has a 1-year low of C$22.75 and a 1-year high of C$37.69. The company has a current ratio of 0.53, a quick ratio of 11.09 and a debt-to-equity ratio of 56.06.

Insiders Place Their Bets

In other Strathcona Resources news, Director Connie De Ciancio purchased 3,358 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average cost of C$28.77 per share, for a total transaction of C$96,609.66. Also, Senior Officer Pit Kim Chiu purchased 1,600 shares of Strathcona Resources stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of C$28.05 per share, for a total transaction of C$44,887.04. In the last quarter, insiders have bought 11,648 shares of company stock valued at $351,865. 91.34% of the stock is currently owned by corporate 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.