Whitecap Resources (TSE:WCP) Price Target Cut to C$14.50 by Analysts at ATB Capital

Whitecap Resources (TSE:WCP) had its price target lowered by investment analysts at ATB Capital from C$15.00 to C$14.50 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Capital’s price target points to a potential upside of 38.23% from the company’s previous close.

Several other equities research analysts have also commented on the company. Desjardins boosted their price objective on Whitecap Resources from C$12.75 to C$13.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group cut their price objective on Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Scotiabank boosted their price objective on Whitecap Resources from C$12.00 to C$13.00 in a research note on Friday, July 12th. Raymond James upgraded Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group cut their price objective on Whitecap Resources from C$14.50 to C$14.00 in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$13.61.

Whitecap Resources Price Performance

TSE WCP traded up C$0.08 during trading hours on Thursday, reaching C$10.49. The company’s stock had a trading volume of 1,174,822 shares, compared to its average volume of 2,299,080. The firm has a market capitalization of C$6.29 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of -0.33 and a beta of 2.67. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.31. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67. The company’s 50-day moving average is C$10.35 and its two-hundred day moving average is C$10.28.

Whitecap Resources (TSE:WCP) last released its quarterly earnings results on Wednesday, July 24th. The company reported C$0.41 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.29 by C$0.12. Whitecap Resources had a return on equity of 13.89% and a net margin of 22.43%. The company had revenue of C$1.05 billion during the quarter, compared to analysts’ expectations of C$946.00 million. On average, equities analysts predict that Whitecap Resources will post 1.1226131 EPS for the current year.

Insider Buying and Selling

In related news, Director Grant Bradley Fagerheim sold 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$10.22, for a total value of C$204,400.00. 0.84% of the stock is currently owned by company insiders.

About Whitecap Resources

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.