National Bank Financial Raises Whitecap Resources (WCP) Price Target to C$9.50

Whitecap Resources (TSE:WCP) had its price target raised by analysts at National Bank Financial from C$8.00 to C$9.50 in a report released on Monday, BayStreet.CA reports. National Bank Financial’s price objective would indicate a potential upside of 79.58% from the company’s previous close.

Several other research firms have also issued reports on WCP. Raymond James lowered their price target on shares of Whitecap Resources from C$9.50 to C$9.00 in a report on Wednesday, December 19th. Haywood Securities cut their price target on shares of Whitecap Resources from C$10.50 to C$9.00 in a research report on Thursday, January 17th. GMP Securities decreased their price target on Whitecap Resources from C$12.50 to C$8.75 in a report on Thursday, December 13th. BMO Capital Markets reissued an “outperform” rating and issued a C$13.00 price objective on shares of Whitecap Resources in a research report on Wednesday, December 19th. Finally, Canaccord Genuity lowered their price objective on Whitecap Resources from C$12.00 to C$8.00 in a research report on Thursday, January 10th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of C$10.91.

Shares of Whitecap Resources stock traded up C$0.49 during midday trading on Monday, reaching C$5.29. The company had a trading volume of 3,647,381 shares, compared to its average volume of 2,301,452. Whitecap Resources has a fifty-two week low of C$3.80 and a fifty-two week high of C$10.36. The firm has a market cap of $2.09 billion and a P/E ratio of 35.27. The company has a debt-to-equity ratio of 38.88, a current ratio of 1.17 and a quick ratio of 0.75.

In related news, Senior Officer Joel Maxwell Armstrong bought 6,780 shares of the company’s stock in a transaction that occurred on Monday, January 14th. The shares were bought at an average price of C$4.73 per share, for a total transaction of C$32,069.40. Following the transaction, the insider now directly owns 230,612 shares of the company’s stock, valued at C$1,090,794.76.

About Whitecap Resources

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in the Western Canada Sedimentary Basin. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan.

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