Strathcona Resources (TSE:SCR) Stock Rating Lowered by Atb Cap Markets

Strathcona Resources (TSE:SCR) was downgraded by equities research analysts at Atb Cap Markets from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other brokerages have also issued reports on SCR. Scotiabank increased their price objective on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, November 15th. ATB Capital lifted their price target on shares of Strathcona Resources from C$37.00 to C$38.00 in a report on Friday, November 15th. Jefferies Financial Group increased their price objective on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday. Royal Bank of Canada lifted their target price on Strathcona Resources from C$34.00 to C$36.00 in a report on Friday, November 15th. Finally, TD Securities raised their price target on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$36.38.

Strathcona Resources Stock Performance

Shares of TSE SCR opened at C$27.31 on Wednesday. The company has a debt-to-equity ratio of 50.29, a current ratio of 0.53 and a quick ratio of 11.09. Strathcona Resources has a 1 year low of C$21.35 and a 1 year high of C$37.69. The firm has a fifty day moving average price of C$29.43 and a 200-day moving average price of C$30.24. The stock has a market cap of C$5.85 billion and a PE ratio of 6.35.

Insiders Place Their Bets

In other Strathcona Resources news, Director Navjeet Dhillon purchased 3,000 shares of Strathcona Resources stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of C$32.56 per share, for a total transaction of C$97,668.00. Company 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.