Whitecap Resources (TSE:WCP) Given New C$15.00 Price Target at Raymond James Financial

Key Points

• Raymond James Financial has increased its price target for Whitecap Resources from C$14.00 to C$15.00, indicating a potential upside of 41.91% from its previous close.
• The company is receiving positive ratings, with several firms issuing upgrades to a "strong-buy" or "buy" rating, reflecting growing confidence from analysts.
• Whitecap Resources shares have seen recent insider activity, notably a purchase of 15,000 shares by Director Grant Bradley Fagerheim, increasing their stake in the company.

Whitecap Resources (TSE:WCP - Get Free Report) had its price objective upped by research analysts at Raymond James Financial from C$14.00 to C$15.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a "strong-buy" rating on the stock. Raymond James Financial's price objective suggests a potential upside of 41.91% from the stock's previous close.

Several other research firms also recently issued reports on WCP. Tudor Pickering upgraded Whitecap Resources to a "strong-buy" rating in a report on Wednesday, October 15th. Scotiabank boosted their target price on Whitecap Resources from C$12.00 to C$14.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 9th. TD Securities boosted their target price on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a "buy" rating in a research note on Thursday. Desjardins raised Whitecap Resources from a "hold" rating to a "buy" rating and boosted their target price for the stock from C$12.00 to C$12.50 in a research note on Tuesday, August 26th. Finally, National Bankshares lowered their target price on Whitecap Resources from C$15.00 to C$14.50 and set an "outperform" rating for the company in a research note on Wednesday. Three investment 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 MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of C$13.93.

Whitecap Resources Trading Up 3.4%

Shares of WCP stock traded up C$0.35 on Thursday, hitting C$10.57. The stock had a trading volume of 8,084,273 shares, compared to its average volume of 6,122,887. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The firm has a market capitalization of C$13.02 billion, a P/E ratio of 7.24, 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's 50 day moving average price is C$10.51 and its 200-day moving average price is C$9.50.

Insider Buying and Selling at Whitecap Resources

In related news, Director Grant Bradley Fagerheim bought 15,000 shares of the stock in a transaction on 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 of the company's stock, valued at C$34,139,897. This trade represents a 0.47% increase in their position. In the last quarter, insiders purchased 25,000 shares of company stock valued at $264,150. Company insiders own 0.84% of the company's stock.

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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