ATB Capital Forecasts Strong Price Appreciation for Strathcona Resources (TSE:SCR) Stock

Strathcona Resources (TSE:SCR) had its price objective boosted by ATB Capital from C$32.00 to C$35.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. ATB Capital’s price objective would suggest a potential upside of 12.36% from the stock’s previous close.

Several other equities research analysts have also recently commented on SCR. Scotiabank raised Strathcona Resources to a “strong-buy” rating in a report on Wednesday, March 19th. Royal Bank Of Canada lifted their price target on Strathcona Resources from C$34.00 to C$36.00 in a research report on Thursday, May 22nd. TD Securities dropped their price objective on Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Finally, CIBC decreased their target price on Strathcona Resources from C$37.00 to C$33.00 in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Strathcona Resources currently has an average rating of “Hold” and a consensus price target of C$34.86.

Strathcona Resources Stock Performance

Shares of SCR stock opened at C$31.15 on Tuesday. The business has a 50 day simple moving average of C$27.76 and a 200 day simple moving average of C$28.13. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09. The firm has a market capitalization of C$6.66 billion and a price-to-earnings ratio of 17.97. Strathcona Resources has a 12-month low of C$22.75 and a 12-month high of C$33.93.

Insider Activity

In related news, Senior Officer Pit Kim Chiu purchased 1,665 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average cost of C$30.00 per share, with a total value of C$49,950.00. Corporate insiders own 91.34% of the company’s stock.

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.