Whitecap Resources (TSE:WCP) Price Target Cut to C$14.50

Whitecap Resources (TSE:WCP) had its target price reduced by ATB Capital from C$15.00 to C$14.50 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Capital’s price target indicates a potential upside of 35.90% from the stock’s previous close.

A number of other research firms have also recently weighed in on WCP. Scotiabank upped their price target on Whitecap Resources from C$12.00 to C$13.00 in a report on Friday, July 12th. Desjardins boosted their price objective on Whitecap Resources from C$12.75 to C$13.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada upgraded Whitecap Resources to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group dropped their price target on shares of Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Canaccord Genuity Group reduced their price objective on shares of Whitecap Resources from C$14.50 to C$14.00 in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Whitecap Resources presently has a consensus rating of “Moderate Buy” and an average price target of C$13.61.

Whitecap Resources Stock Performance

WCP opened at C$10.67 on Thursday. The firm has a fifty day moving average price of C$10.36 and a 200 day moving average price of C$10.29. Whitecap Resources has a 1 year low of C$8.15 and a 1 year high of C$11.31. The stock has a market cap of C$6.39 billion, a P/E ratio of 8.54, a P/E/G ratio of -0.33 and a beta of 2.67. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings data on Wednesday, July 24th. The company reported C$0.41 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.29 by C$0.12. Whitecap Resources had a net margin of 22.43% and a return on equity of 13.89%. The business had revenue of C$1.05 billion during the quarter, compared to the consensus estimate of C$946.00 million. Equities research analysts anticipate that Whitecap Resources will post 1.1226131 earnings per share for the current year.

Insider Transactions at Whitecap Resources

In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$10.22, for a total value of C$204,400.00. Insiders own 0.84% of the company’s stock.

About Whitecap Resources

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.