Whitecap Resources (TSE:WCP) Upgraded to Strong-Buy at Tudor Pickering

Key Points

• Whitecap Resources was upgraded to a "strong-buy" rating by Tudor Pickering, indicating increased analyst confidence in the company's performance.
• Scotiabank and Raymond James have both raised their price targets for Whitecap Resources to C$14.00, reflecting growing optimism among brokers.
• Insider buying activity is notable, with Director Grant Bradley Fagerheim purchasing 15,000 shares at C$10.60 each, amplifying confidence in the company's future.

Whitecap Resources (TSE:WCP - Get Free Report) was upgraded by research analysts at Tudor Pickering to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages have also recently weighed in on WCP. Scotiabank increased their price objective on shares of 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. Raymond James Financial increased their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Desjardins upgraded shares of Whitecap Resources from a "hold" rating to a "buy" rating and increased their price objective for the stock from C$12.00 to C$12.50 in a research note on Tuesday, August 26th. Three 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 company. According to data from MarketBeat.com, Whitecap Resources presently has an average rating of "Buy" and a consensus target price of C$13.86.

Whitecap Resources Stock Performance

Shares of TSE WCP opened at C$10.50 on Wednesday. The firm's 50-day moving average price is C$10.50 and its 200-day moving average price is C$9.46. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58. The company has a market cap of C$12.93 billion, a PE ratio of 7.19, a PEG ratio of -0.33 and a beta of 0.66. Whitecap Resources has a 52-week low of C$6.87 and a 52-week high of C$11.30.

Insider Buying and Selling

In other news, Director Grant Bradley Fagerheim bought 15,000 shares of the firm's stock in a transaction on Friday, October 10th. The shares were bought at an average price 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. The trade was a 0.47% increase in their ownership of the stock. In the last quarter, insiders have purchased 25,000 shares of company stock worth $264,150. 0.84% of the stock is currently owned by company 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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