Whitecap Resources (TSE:WCP) PT Lowered to C$6.00 at Royal Bank of Canada

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Whitecap Resources (TSE:WCP) had its price objective decreased by investment analysts at Royal Bank of Canada from C$6.75 to C$6.00 in a research report issued on Friday, BayStreet.CA reports. Royal Bank of Canada’s price target points to a potential upside of 63.04% from the company’s previous close.

A number of other research firms have also recently weighed in on WCP. CIBC dropped their price target on Whitecap Resources from C$7.25 to C$6.50 in a research note on Tuesday. Laurentian dropped their price target on Whitecap Resources from C$9.50 to C$8.75 in a research note on Tuesday, August 27th. Raymond James set a C$6.50 price target on Whitecap Resources and gave the company a “strong-buy” rating in a research note on Tuesday, August 27th. Tudor Pickering & Holt cut Whitecap Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Canaccord Genuity dropped their price target on Whitecap Resources from C$8.00 to C$7.50 in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of C$7.93.

WCP traded down C$0.07 during trading hours on Friday, reaching C$3.68. The company’s stock had a trading volume of 1,051,134 shares, compared to its average volume of 2,460,820. Whitecap Resources has a 52 week low of C$3.41 and a 52 week high of C$6.97. The company’s 50-day moving average is C$4.20 and its 200-day moving average is C$4.47. The company has a debt-to-equity ratio of 39.79, a quick ratio of 0.81 and a current ratio of 0.84. The firm has a market cap of $1.55 billion and a PE ratio of 19.37.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.09 by C$0.05. The business had revenue of C$379.33 million during the quarter. Equities analysts anticipate that Whitecap Resources will post 0.27 earnings per share for the current fiscal year.

In other news, Director Grant Bradley Fagerheim acquired 10,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of C$3.61 per share, for a total transaction of C$36,099.00. Following the transaction, the director now directly owns 2,119,524 shares of the company’s stock, valued at C$7,651,269.69. Also, Senior Officer Darin Roy Dunlop acquired 30,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were purchased at an average price of C$3.44 per share, for a total transaction of C$103,200.00. Following the transaction, the insider now directly owns 237,278 shares in the company, valued at C$816,236.32. Insiders have acquired a total of 45,700 shares of company stock worth $166,192 in the last quarter.

Whitecap Resources Company Profile

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan. Whitecap Resources Inc is headquartered in Calgary, Canada.

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Analyst Recommendations for Whitecap Resources (TSE:WCP)

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