Strathcona Resources (TSE:SCR) Price Target Raised to C$37.00 at CIBC

Strathcona Resources (TSE:SCR) had its target price boosted by CIBC from C$35.00 to C$37.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 25.85% from the stock’s current price.

A number of other equities analysts have also recently issued reports on SCR. Atb Cap Markets cut Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. TD Securities raised their price objective on shares of Strathcona Resources from C$30.00 to C$31.00 in a report on Friday, November 15th. Jefferies Financial Group raised their price target on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. Royal Bank of Canada decreased their target price on shares of Strathcona Resources from C$36.00 to C$35.00 in a research report on Tuesday, January 14th. Finally, ATB Capital raised their price target 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 given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$35.88.

Strathcona Resources Trading Up 0.2 %

SCR opened at C$29.40 on Friday. Strathcona Resources has a twelve month low of C$22.45 and a twelve month high of C$37.69. The company has a 50-day simple moving average of C$30.47 and a 200 day simple moving average of C$29.89. The company has a quick ratio of 11.09, a current ratio of 0.53 and a debt-to-equity ratio of 50.29. The stock has a market capitalization of C$6.30 billion and a price-to-earnings ratio of 6.84.

Insiders Place Their Bets

In related news, Director Connie De Ciancio acquired 3,358 shares of Strathcona Resources stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average cost of C$28.77 per share, for a total transaction of C$96,609.66. Also, Senior Officer Dale George Babiak bought 6,410 shares of the business’s stock in a transaction that occurred on 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. In the last ninety days, insiders acquired 14,648 shares of company stock valued at $449,533. 91.34% of the stock is 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.