Whitecap Resources (TSE:WCP) Given New C$14.00 Price Target at TD Securities

Key Points

• TD Securities has raised its price target for Whitecap Resources from C$13.00 to C$14.00, suggesting a potential upside of 32.45% from the stock's previous close.
• Multiple analysts have recently upgraded their ratings on Whitecap Resources, with three giving a Strong Buy rating and four assigning a Buy rating, indicating strong market confidence in the stock.
• Insider buying activity has been noted, with Director Grant Bradley Fagerheim acquiring 15,000 shares at C$10.60 each, reflecting continued confidence in the company's future prospects.

Whitecap Resources (TSE:WCP - Get Free Report) had its price objective lifted by analysts at TD Securities from C$13.00 to C$14.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD Securities' target price indicates a potential upside of 32.45% from the company's previous close.

WCP has been the subject of several other research reports. Tudor Pickering upgraded Whitecap Resources to a "strong-buy" rating in a research note on Wednesday, October 15th. Desjardins upgraded Whitecap Resources from a "hold" rating to a "buy" rating and increased their target price for the company from C$12.00 to C$12.50 in a research note on Tuesday, August 26th. Scotiabank upped their price target on Whitecap Resources from C$12.00 to C$14.00 and gave the company a "sector perform" rating in a report on Thursday, October 9th. National Bankshares cut their price target on Whitecap Resources from C$15.00 to C$14.50 and set an "outperform" rating for the company in a report on Wednesday. Finally, Raymond James Financial upped their price target on Whitecap Resources from C$13.00 to C$14.00 and gave the company a "strong-buy" rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$13.93.

Whitecap Resources Stock Performance

TSE:WCP traded up C$0.35 during mid-day trading on Thursday, hitting C$10.57. 8,084,273 shares of the company's stock traded hands, compared to its average volume of 6,122,887. The firm has a 50 day moving average of C$10.51 and a two-hundred day moving average of C$9.50. Whitecap Resources has a 12 month low of C$6.87 and a 12 month high of C$11.30. The firm has a market capitalization of C$13.02 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of -0.33 and a beta of 0.66. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58.

Insider Buying and Selling at Whitecap Resources

In related news, Director Grant Bradley Fagerheim acquired 15,000 shares of the stock in a transaction dated Friday, October 10th. The shares were bought at an average cost of C$10.60 per share, for a total transaction of C$159,000.00. Following the purchase, the director owned 3,220,745 shares in the company, valued at approximately C$34,139,897. This trade represents a 0.47% increase in their position. In the last 90 days, insiders purchased 25,000 shares of company stock valued at $264,150. Corporate insiders own 0.84% of the company's stock.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap's Canadian assets.

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