Whitecap Resources (TSE:WCP) Given New C$7.00 Price Target at BMO Capital Markets

Whitecap Resources (TSE:WCP) had its price objective cut by research analysts at BMO Capital Markets from C$7.50 to C$7.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 69.08% from the company’s previous close.

A number of other research firms have also commented on WCP. National Bank Financial upped their price target on shares of Whitecap Resources from C$8.00 to C$9.50 in a report on Monday, April 8th. Raymond James reiterated a “strong-buy” rating and set a C$8.50 price target on shares of Whitecap Resources in a report on Thursday, May 2nd.

Shares of Whitecap Resources stock opened at C$4.14 on Friday. Whitecap Resources has a 52-week low of C$3.80 and a 52-week high of C$9.52. The firm has a market capitalization of $1.71 billion and a PE ratio of 98.57. The company has a debt-to-equity ratio of 42.76, a current ratio of 0.69 and a quick ratio of 0.69.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Wednesday, May 1st. The company reported C($0.13) EPS for the quarter. The company had revenue of C$354.86 million for the quarter. As a group, equities research analysts forecast that Whitecap Resources will post 0.47 EPS for the current year.

In related news, Director Grant Bradley Fagerheim acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of C$5.54 per share, for a total transaction of C$27,699.00. Following the acquisition, the director now owns 682,925 shares of the company’s stock, valued at C$3,783,267.92. Also, Senior Officer David Michael Mombourquette acquired 11,900 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was bought at an average price of C$4.20 per share, with a total value of C$49,980.00. Following the completion of the acquisition, the insider now directly owns 291,900 shares in the company, valued at approximately C$1,225,980. Insiders acquired a total of 27,420 shares of company stock valued at $126,971 over the last 90 days.

About Whitecap Resources

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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