Whitecap Resources (TSE:WCP) Price Target Lowered to C$7.50 at Canaccord Genuity

Whitecap Resources (TSE:WCP) had its target price lowered by Canaccord Genuity from C$8.00 to C$7.50 in a report released on Tuesday, BayStreet.CA reports.

Other research analysts also recently issued reports about the company. National Bank Financial reduced their price objective on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. BMO Capital Markets reissued a hold rating and issued a $9.50 price objective on shares of Vicon Industries in a research note on Friday, June 14th. Finally, Raymond James increased their price objective on Whitecap Resources from C$8.50 to C$8.75 and gave the company a strong-buy rating in a research note on Monday, June 10th.

TSE WCP opened at C$4.44 on Tuesday. The company has a fifty day moving average price of C$4.36. Whitecap Resources has a one year low of C$3.80 and a one year high of C$9.47. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 42.76. The firm has a market cap of $1.81 billion and a P/E ratio of 105.71.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings data on Wednesday, May 1st. The company reported C($0.13) EPS for the quarter. The company had revenue of C$354.86 million during the quarter. On average, research analysts predict that Whitecap Resources will post 0.41 EPS for the current fiscal year.

In related news, Senior Officer Thanh Chan Kang bought 5,520 shares of the business’s stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of C$5.08 per share, with a total value of C$28,041.60. Following the purchase, the insider now directly owns 502,868 shares of the company’s stock, valued at C$2,554,569.44. Also, Senior Officer David Michael Mombourquette bought 11,900 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was bought at an average cost of C$4.20 per share, with a total value of C$49,980.00. Following the completion of the purchase, the insider now directly owns 291,900 shares in the company, valued at C$1,225,980. Over the last three months, insiders purchased 77,420 shares of company stock valued at $326,971.

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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