Whitecap Resources Inc. (WCP) Price Target Cut to C$12.00
Whitecap Resources Inc. (TSE:WCP) had its price objective lowered by stock analysts at Royal Bank Of Canada from C$15.00 to C$12.00 in a research note issued on Thursday, StockTargetPrices.com reports. Royal Bank Of Canada’s target price points to a potential upside of 25.79% from the company’s current price.
A number of other equities analysts also recently issued reports on the company. National Bank Financial lowered their price target on Whitecap Resources from C$13.50 to C$12.00 in a report on Friday, June 23rd. TD Securities reaffirmed a “buy” rating and issued a C$14.00 price target on shares of Whitecap Resources in a report on Thursday, May 4th. Scotiabank reiterated an “outperform” rating and issued a C$15.00 price objective on shares of Whitecap Resources in a research note on Thursday, May 4th. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and issued a C$14.00 price objective on shares of Whitecap Resources in a research note on Thursday, April 20th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of C$13.92.
Whitecap Resources (TSE:WCP) traded down 4.19% during mid-day trading on Thursday, hitting $9.14. 1,058,721 shares of the stock were exchanged. The firm has a market cap of $3.37 billion and a P/E ratio of 14.42. The company has a 50 day moving average of $9.23 and a 200 day moving average of $10.14. Whitecap Resources has a 12-month low of $8.66 and a 12-month high of $12.90.
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In other news, insider Thanh Chan Kang bought 2,800 shares of the stock in a transaction on Friday, April 21st. The shares were bought at an average price of C$9.73 per share, with a total value of C$27,244.00. Also, Director Grant Bradley Fagerheim bought 10,000 shares of the stock in a transaction on Friday, April 21st. The stock was purchased at an average cost of C$9.76 per share, for a total transaction of C$97,600.00. Insiders acquired 40,800 shares of company stock valued at $379,114 in the last quarter.
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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