National Bank Financial Lowers Whitecap Resources Inc. (WCP) Price Target to C$11.50
Whitecap Resources Inc. (TSE:WCP) had its price target lowered by research analysts at National Bank Financial from C$12.00 to C$11.50 in a research note issued on Friday. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price objective would suggest a potential upside of 25.96% from the stock’s current price.
Several other brokerages have also commented on WCP. Royal Bank Of Canada dropped their price objective on Whitecap Resources from C$15.00 to C$12.00 in a report on Thursday, July 20th. Barclays PLC dropped their price objective on Whitecap Resources from C$13.00 to C$10.00 in a report on Monday, July 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of C$13.60.
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In other news, Director Grant Bradley Fagerheim purchased 8,000 shares of the stock in a transaction dated Monday, August 21st. The shares were purchased at an average cost of C$8.87 per share, with a total value of C$70,960.00. Also, insider Jeffery Byron Zdunich purchased 5,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average cost of C$8.46 per share, for a total transaction of C$42,300.00. Insiders bought 25,000 shares of company stock worth $220,540 over the last ninety days.
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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