Storm Resources Ltd. (SRX) Cut to “Sector Perform” at National Bank Financial
Storm Resources Ltd. (TSE:SRX) was downgraded by research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday. They currently have a C$4.25 target price on the oil and natural gas company’s stock, down from their prior target price of C$4.50.
SRX has been the subject of a number of other research reports. BMO Capital Markets decreased their target price on Storm Resources to C$4.50 and set a “market perform” rating for the company in a research report on Wednesday, August 16th. Raymond James Financial, Inc. cut Storm Resources from an “outperform” rating to a “market perform” rating in a research report on Friday, October 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of C$5.54.
Shares of Storm Resources (TSE:SRX) remained flat at $C$0.36 during trading on Wednesday. The company had a trading volume of 46,462 shares, compared to its average volume of 27,246. Storm Resources has a 52 week low of C$0.31 and a 52 week high of C$0.38.
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Storm Resources Ltd. acquires, explores, develops, and produces oil, natural gas, and natural gas liquids in Canada. It primarily owns interests in lands covering approximately an area of 109,000 net acres in 155 net sections located in Umbach, as well as interests in 119 sections covering approximately an area of 78,000 net acres situated in Horn River Basin, Northeast British Columbia.
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