Scotiabank Upgrades Whitecap Resources (TSE:WCP) to “Outperform”

Whitecap Resources (TSE:WCP) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has a C$12.00 price objective on the stock. Scotiabank’s target price would indicate a potential upside of 36.52% from the company’s current price.

A number of other analysts have also recently commented on the company. Raymond James boosted their price target on Whitecap Resources from C$11.50 to C$12.00 and gave the stock an “outperform” rating in a research report on Tuesday. CIBC lowered their price objective on shares of Whitecap Resources from C$14.50 to C$13.00 in a research report on Thursday, April 10th. Desjardins dropped their target price on Whitecap Resources from C$12.00 to C$11.50 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, National Bankshares upped their price objective on Whitecap Resources from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a research note on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Whitecap Resources presently has a consensus rating of “Buy” and a consensus price target of C$12.88.

Whitecap Resources Price Performance

Shares of WCP stock opened at C$8.79 on Tuesday. 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$5.13 billion, a price-to-earnings ratio of 5.93, a PEG 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 business’s fifty day moving average is C$8.35 and its 200 day moving average is C$9.45.

Insider Activity at Whitecap Resources

In related news, insider Whitecap Resources Inc. sold 619,983 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of C$8.72, for a total value of C$5,406,251.76. Also, Director Grant Bradley Fagerheim acquired 30,000 shares of Whitecap Resources stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of C$8.42 per share, with a total value of C$252,600.00. In the last 90 days, insiders have purchased 123,120 shares of company stock worth $1,032,336. Company insiders own 0.84% of the company’s stock.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap’s Canadian assets.