Royal Bank of Canada Issues Pessimistic Forecast for Strathcona Resources (TSE:SCR) Stock Price

Strathcona Resources (TSE:SCR) had its price target cut by equities researchers at Royal Bank of Canada from C$36.00 to C$35.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 15.21% from the company’s current price.

A number of other equities analysts have also commented on SCR. TD Securities raised their price target on Strathcona Resources from C$30.00 to C$31.00 in a report on Friday, November 15th. Jefferies Financial Group upped their target price on shares of Strathcona Resources from C$30.00 to C$32.00 in a report on Monday, December 16th. Atb Cap Markets cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Scotiabank upped their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, November 15th. Finally, ATB Capital lifted their target price on shares of Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. Three investment 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$36.25.

Strathcona Resources Stock Performance

Shares of TSE SCR traded down C$0.78 during trading on Tuesday, reaching C$30.38. 36,216 shares of the stock traded hands, compared to its average volume of 29,184. Strathcona Resources has a 52-week low of C$22.45 and a 52-week high of C$37.69. The company has a 50-day moving average of C$30.37 and a 200-day moving average of C$29.97. The stock has a market capitalization of C$6.51 billion and a P/E ratio of 7.07. The company has a debt-to-equity ratio of 50.29, a current ratio of 0.53 and a quick ratio of 11.09.

Insider Activity at Strathcona Resources

In other news, Senior Officer Pit Kim Chiu bought 1,600 shares of Strathcona Resources stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of C$28.05 per share, with a total value of C$44,887.04. Also, Director Navjeet Dhillon bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of C$32.56 per share, with a total value of C$97,668.00. Insiders have purchased a total of 14,368 shares of company stock worth $441,080 over the last quarter. Company insiders own 91.34% of the company’s stock.

About Strathcona Resources

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.