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

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

Several other analysts have also recently weighed in on the company. Raymond James set a C$6.50 price objective on Whitecap Resources and gave the stock a “strong-buy” rating in a report on Tuesday, August 27th. Tudor Pickering & Holt cut Whitecap Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. CIBC dropped their price objective on Whitecap Resources from C$7.25 to C$6.50 in a report on Tuesday. National Bank Financial dropped their price objective on Whitecap Resources from C$7.50 to C$7.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Finally, Laurentian dropped their price objective on Whitecap Resources from C$9.50 to C$8.75 in a report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$7.93.

TSE WCP traded down C$0.07 on Friday, hitting C$3.68. 1,051,134 shares of the company were exchanged, compared to its average volume of 2,460,820. The firm has a 50 day moving average of C$4.20 and a two-hundred day moving average of C$4.47. The company has a market cap of $1.55 billion and a P/E ratio of 19.37. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 39.79. Whitecap Resources has a 1-year low of C$3.41 and a 1-year high of C$6.97.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.09 by C$0.05. The company had revenue of C$379.33 million for the quarter. Research analysts anticipate that Whitecap Resources will post 0.27 EPS for the current fiscal year.

In related news, Director Grant Bradley Fagerheim purchased 10,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of C$3.61 per share, with a total value of C$36,099.00. Following the purchase, the director now directly owns 2,119,524 shares in the company, valued at approximately C$7,651,269.69. Also, Senior Officer Darin Roy Dunlop purchased 30,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of C$3.44 per share, with a total value of C$103,200.00. Following the completion of the purchase, the insider now owns 237,278 shares in the company, valued at C$816,236.32. Over the last ninety days, insiders bought 45,700 shares of company stock valued at $166,192.

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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