Whitecap Resources (TSE:WCP) Price Target Lowered to C$7.00 at BMO Capital Markets

Whitecap Resources (TSE:WCP) had its price target reduced by stock analysts at BMO Capital Markets from C$7.50 to C$7.00 in a research note issued to investors on Friday, BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 66.27% from the stock’s previous close.

Several other research firms also recently weighed in on WCP. National Bank Financial upped their price target on Whitecap Resources from C$8.00 to C$9.50 in a research note on Monday, April 8th. Raymond James restated a “strong-buy” rating and issued a C$8.50 price target on shares of Whitecap Resources in a research note on Thursday, May 2nd.

WCP stock traded down C$0.01 during midday trading on Friday, hitting C$4.21. The company’s stock had a trading volume of 1,137,998 shares, compared to its average volume of 2,405,272. Whitecap Resources has a 12 month low of C$3.80 and a 12 month high of C$9.52. The company has a debt-to-equity ratio of 42.76, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $1.73 billion and a price-to-earnings ratio of 100.24.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Wednesday, May 1st. The company reported C($0.13) earnings per share for the quarter. The business had revenue of C$354.86 million during the quarter. Sell-side analysts anticipate that Whitecap Resources will post 0.47 EPS for the current fiscal year.

In other news, Senior Officer David Michael Mombourquette bought 11,900 shares of the stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of C$4.20 per share, for a total transaction of C$49,980.00. Following the transaction, the insider now owns 291,900 shares of the company’s stock, valued at C$1,225,980. Also, Director Grant Bradley Fagerheim bought 5,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of C$5.54 per share, with a total value of C$27,699.00. Following the completion of the transaction, the director now directly owns 682,925 shares in the company, valued at approximately C$3,783,267.92. Insiders have bought a total of 27,420 shares of company stock valued at $126,971 over the last quarter.

Whitecap Resources Company Profile

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan. Whitecap Resources Inc is headquartered in Calgary, Canada.

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