Whitecap Resources Inc. (WCP) Price Target Cut to C$12.00
Whitecap Resources Inc. (TSE:WCP) had its target price lowered by research analysts at National Bank Financial from C$13.50 to C$12.00 in a note issued to investors on Friday. National Bank Financial’s target price would indicate a potential upside of 36.99% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Raymond James Financial, Inc. restated an “outperform” rating and issued a C$14.00 price objective on shares of Whitecap Resources in a research note on Tuesday, February 28th. Scotiabank restated an “outperform” rating and issued a C$14.50 price objective on shares of Whitecap Resources in a research note on Tuesday, February 28th. Finally, TD Securities restated a “buy” rating and issued a C$15.00 price objective on shares of Whitecap Resources in a research note on Tuesday, February 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of C$14.15.
Whitecap Resources (WCP) traded up 3.08% during mid-day trading on Friday, hitting $9.03. 566,445 shares of the stock traded hands. The stock’s 50 day moving average is $9.57 and its 200-day moving average is $10.54. Whitecap Resources has a 12 month low of $8.73 and a 12 month high of $12.90. The company has a market cap of $3.33 billion and a price-to-earnings ratio of 14.24.
In other Whitecap Resources news, insider Joel Maxwell Armstrong bought 11,000 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were bought at an average cost of C$9.01 per share, for a total transaction of C$99,110.00. Also, Director Grant Bradley Fagerheim bought 10,000 shares of the business’s stock in a transaction on Friday, April 21st. The shares were acquired at an average price of C$9.76 per share, for a total transaction of C$97,600.00. Over the last 90 days, insiders have acquired 40,800 shares of company stock worth $379,114.
About Whitecap Resources
Whitecap Resources Inc is a Canada-based oil-weighted growth company focused on its existing assets enhanced by oil-based acquisitions. Its assets include Boundary Lake property, which is located in northeast British Columbia; Valhalla North property, which is located in the Peace River Arch area of Alberta and is characterized by shallow declines and a production base, and Deep Basin properties, which include Karr, Simonette, Kakwa, Elmworth and Wapiti, which are located southwest of Grande Prairie, Alberta.
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