Desjardins Issues Pessimistic Forecast for Whitecap Resources (TSE:WCP) Stock Price

Whitecap Resources (TSE:WCP) had its price target reduced by investment analysts at Desjardins from C$13.00 to C$12.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential upside of 40.19% from the stock’s previous close.

Separately, National Bankshares lowered their target price on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$13.52.

Whitecap Resources Stock Performance

Shares of Whitecap Resources stock opened at C$8.56 on Tuesday. Whitecap Resources has a 12 month low of C$7.88 and a 12 month high of C$11.31. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58. The stock has a market cap of C$5.00 billion, a PE ratio of 5.78, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The business has a fifty day simple moving average of C$9.81 and a 200-day simple moving average of C$10.10.

Insider Activity

In other news, Senior Officer Thanh Chan Kang purchased 9,720 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of C$8.43 per share, with a total value of C$81,939.60. Also, Director Grant Bradley Fagerheim acquired 30,000 shares of Whitecap Resources stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of C$8.42 per share, with a total value of C$252,600.00. 0.84% of the stock is owned by insiders.

Whitecap Resources Company Profile

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.