Whitecap Resources (TSE:WCP) Given New C$14.50 Price Target at National Bankshares

Key Points

• National Bankshares has lowered its price target for Whitecap Resources from C$15.00 to C$14.50, indicating a potential upside of 42.86% from the current price of the stock.
• Multiple analysts have positive outlooks on the stock, with three ratings of "Strong Buy" and three rating it as "Buy," leading to a consensus target price of C$13.75.
• Whitecap Resources shares decreased by 0.3% to C$10.15, with recent insider trading activity showing increased investment from its director.

Whitecap Resources (TSE:WCP - Get Free Report) had its target price cut by National Bankshares from C$15.00 to C$14.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bankshares' price target suggests a potential upside of 42.86% from the company's current price.

Several other research firms have also recently issued reports on WCP. Scotiabank upped their price objective on Whitecap Resources from C$12.00 to C$14.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 9th. Desjardins raised Whitecap Resources from a "hold" rating to a "buy" rating and upped their target price for the company from C$12.00 to C$12.50 in a research report on Tuesday, August 26th. Raymond James Financial upped their target price on Whitecap Resources from C$13.00 to C$14.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 24th. Finally, Tudor Pickering raised Whitecap Resources to a "strong-buy" rating in a research report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Whitecap Resources presently has a consensus rating of "Buy" and a consensus target price of C$13.75.

Whitecap Resources Stock Down 0.3%

Shares of TSE:WCP traded down C$0.03 on Wednesday, hitting C$10.15. 4,363,253 shares of the company's stock were exchanged, compared to its average volume of 6,093,983. The firm's 50-day moving average is C$10.51 and its 200 day moving average is C$9.49. The company has a market capitalization of C$12.50 billion, a PE ratio of 6.95, a P/E/G ratio of -0.33 and a beta of 0.66. Whitecap Resources has a 1-year low of C$6.87 and a 1-year high of C$11.30. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88.

Insider Buying and Selling

In related news, Director Grant Bradley Fagerheim acquired 15,000 shares of Whitecap Resources stock in a transaction on Friday, October 10th. The stock was purchased at an average cost of C$10.60 per share, with a total value of C$159,000.00. Following the purchase, the director directly owned 3,220,745 shares in the company, valued at approximately C$34,139,897. The trade was a 0.47% increase in their ownership of the stock. Over the last ninety days, insiders purchased 25,000 shares of company stock worth $264,150. 0.84% of the stock is owned by corporate insiders.

About Whitecap Resources

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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