Whitecap Resources (TSE:WCP) Given a C$12.00 Price Target by Desjardins Analysts

Whitecap Resources (TSE:WCP) has been given a C$12.00 target price by Desjardins in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 30.58% from the stock’s previous close.

A number of other brokerages have also recently commented on WCP. Raymond James raised Whitecap Resources from a “market perform” rating to an “outperform” rating and set a C$13.00 price target for the company in a research note on Tuesday, March 11th. National Bankshares lowered their price target on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$13.52.

Whitecap Resources Stock Performance

WCP traded up C$0.18 during trading on Wednesday, reaching C$9.19. 3,856,435 shares of the company’s stock were exchanged, compared to its average volume of 3,470,709. Whitecap Resources has a fifty-two week low of C$7.88 and a fifty-two week 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 business has a 50 day moving average price of C$9.68 and a 200 day moving average price of C$10.05. The company has a market capitalization of C$5.37 billion, a P/E ratio of 6.20, a PEG ratio of -0.33 and a beta of 2.67.

Insider Activity

In other news, Director Grant Bradley Fagerheim acquired 30,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of C$8.42 per share, for a total transaction of C$252,600.00. Also, Senior Officer Thanh Chan Kang purchased 9,720 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of C$8.43 per share, for a total transaction of C$81,939.60. In the last 90 days, insiders purchased 51,920 shares of company stock valued at $439,368. 0.84% of the stock is owned by insiders.

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.