Whitecap Resources (TSE:WCP) Given New C$13.00 Price Target at CIBC

Whitecap Resources (TSE:WCP) had its price objective cut by research analysts at CIBC from C$14.50 to C$13.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 68.83% from the stock’s previous close.

Several other research analysts have also weighed in on WCP. National Bankshares reduced their target price on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Desjardins set a C$12.00 price objective on Whitecap Resources and gave the company a “buy” rating in a report on Wednesday, March 19th. Finally, Raymond James raised Whitecap Resources from a “market perform” rating to an “outperform” rating and set a C$13.00 target price for the company in a research note on Tuesday, March 11th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$13.34.

Whitecap Resources Trading Up 3.4 %

Shares of TSE WCP opened at C$7.70 on Thursday. Whitecap Resources has a twelve month low of C$6.87 and a twelve month high of C$11.31. The stock has a market cap of C$4.50 billion, a price-to-earnings ratio of 5.19, a P/E/G ratio of -0.33 and a beta of 2.67. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58. The company’s fifty day moving average is C$9.11 and its 200-day moving average is C$9.85.

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim bought 5,000 shares of Whitecap Resources stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of C$7.60 per share, with a total value of C$38,000.00. Also, Senior Officer Thanh Chan Kang acquired 9,720 shares of Whitecap Resources stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of C$8.43 per share, with a total value of C$81,939.60. Insiders have bought 98,120 shares of company stock worth $835,336 in the last ninety days. Insiders own 0.84% of the company’s stock.

About Whitecap Resources

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.