Strathcona Resources (TSE:SCR) Price Target Lowered to C$33.00 at Scotiabank

Strathcona Resources (TSE:SCR) had its price target decreased by Scotiabank from C$40.00 to C$33.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 13.21% from the stock’s current price.

A number of other equities research analysts have also weighed in on SCR. Natl Bk Canada lowered shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. TD Securities upped their price objective on Strathcona Resources from C$35.00 to C$36.00 and gave the company a “hold” rating in a research report on Friday, November 7th. Jefferies Financial Group boosted their price target on Strathcona Resources from C$34.00 to C$38.00 in a research note on Tuesday, November 11th. National Bankshares lowered their price objective on shares of Strathcona Resources from C$38.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 22nd. Finally, ATB Capital dropped their price objective on shares of Strathcona Resources from C$42.00 to C$32.00 in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Strathcona Resources has a consensus rating of “Hold” and a consensus target price of C$35.43.

Strathcona Resources Stock Performance

Shares of TSE SCR traded up C$0.15 during trading on Wednesday, reaching C$29.15. 81,547 shares of the company traded hands, compared to its average volume of 79,585. The firm has a 50 day simple moving average of C$39.68 and a 200-day simple moving average of C$36.42. Strathcona Resources has a 52-week low of C$22.75 and a 52-week high of C$45.09. The stock has a market capitalization of C$6.24 billion, a PE ratio of 5.69, a P/E/G ratio of -2.02 and a beta of 2.61. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 56.06.

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.