Whitecap Resources (TSE:WCP) Upgraded by Capital One Financial to "Strong-Buy" Rating

Key Points

• Whitecap Resources has received an upgrade to a "strong-buy" rating from Capital One Financial, reflecting positive analyst sentiment towards the company.
• Several brokerages have adjusted their price targets for Whitecap Resources, with TD Securities raising it from C$13.00 to C$14.00 and offering a "buy" rating.
• The company has a current market capitalization of C$12.81 billion and showed a 12-month price range with a low of C$6.87 and a high of C$11.30, indicating strong performance in the energy sector.

Whitecap Resources (TSE:WCP - Get Free Report) was upgraded by equities research analysts at Capital One Financial to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on WCP. TD Securities increased their price target on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a "buy" rating in a report on Thursday, October 23rd. National Bankshares lowered their price objective on shares of Whitecap Resources from C$15.00 to C$14.50 and set an "outperform" rating for the company in a research report on Wednesday, October 22nd. Tudor Pickering raised shares of Whitecap Resources to a "strong-buy" rating in a research report on Wednesday, October 15th. Desjardins upped their target price on Whitecap Resources from C$13.00 to C$13.50 and gave the stock a "buy" rating in a report on Friday, October 24th. Finally, Scotiabank raised their price target on Whitecap Resources from C$12.00 to C$14.00 and gave the company a "sector perform" rating in a research note on Thursday, October 9th. Four analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$14.00.

Whitecap Resources Stock Performance

Shares of TSE:WCP opened at C$10.55 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. Whitecap Resources has a 12 month low of C$6.87 and a 12 month high of C$11.30. The company has a market capitalization of C$12.81 billion, a price-to-earnings ratio of 9.34, a PEG ratio of -0.33 and a beta of 0.66. The firm's 50-day moving average is C$10.56 and its 200 day moving average is C$9.61.

Insiders Place Their Bets

In related news, Director Grant Bradley Fagerheim bought 15,000 shares of the company's stock in a transaction that occurred on Friday, October 10th. The stock was purchased at an average price of C$10.60 per share, for a total transaction of C$159,000.00. Following the acquisition, the director owned 3,220,745 shares of the company's stock, valued at approximately C$34,139,897. This trade represents a 0.47% increase in their ownership of the stock. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.