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

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

Separately, National Bankshares cut their target price on shares of 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 research analysts have rated the stock with a buy rating, According to MarketBeat.com, Whitecap Resources currently has a consensus rating of “Buy” and an average target price of C$13.52.

Whitecap Resources Stock Up 3.1 %

Shares of WCP 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 firm 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 stock has a 50 day moving average of C$9.81 and a 200-day moving average of C$10.10.

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim purchased 30,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of C$8.42 per share, for a total transaction of C$252,600.00. Also, Senior Officer Thanh Chan Kang acquired 9,720 shares of the company’s stock in a transaction on 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. 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.