Strathcona Resources (TSE:SCR) Raised to “Strong-Buy” at Scotiabank

Strathcona Resources (TSE:SCR) was upgraded by research analysts at Scotiabank to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on the stock. Atb Cap Markets lowered shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. TD Securities decreased their target price on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a report on Thursday, March 6th. Royal Bank of Canada decreased their price target on shares of Strathcona Resources from C$35.00 to C$34.00 and set a “sector perform” rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group lifted their price target on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. Finally, CIBC lifted their price target on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$35.50.

Strathcona Resources Price Performance

SCR stock opened at C$28.97 on Wednesday. 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 has a 12 month low of C$22.75 and a 12 month high of C$37.69. The firm has a market cap of C$6.20 billion and a P/E ratio of 16.71. The company’s 50-day moving average price is C$27.59 and its two-hundred day moving average price is C$28.62.

Insiders Place Their Bets

In other news, Senior Officer Dale George Babiak purchased 6,410 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were purchased at an average price of C$31.50 per share, for a total transaction of C$201,915.00. Also, Senior Officer Allan Grabas purchased 8,802 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of C$27.47 per share, for a total transaction of C$241,790.94. Insiders have acquired 18,850 shares of company stock valued at $548,769 in the last ninety days. 91.34% of the stock is currently owned by insiders.

Strathcona Resources Company Profile

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.