Whitecap Resources (TSE:WCP) Raised to Strong-Buy at National Bank Financial

Whitecap Resources (TSE:WCP) was upgraded by equities researchers at National Bank Financial to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. CIBC dropped their target price on Whitecap Resources from C$14.50 to C$13.00 in a report on Thursday, April 10th. Desjardins dropped their target price on Whitecap Resources from C$12.00 to C$11.50 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Raymond James raised their price objective on Whitecap Resources from C$11.50 to C$12.00 and gave the company an “outperform” rating in a research note on Tuesday. National Bankshares raised their price objective on Whitecap Resources from C$14.50 to C$15.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Scotiabank upgraded Whitecap Resources from a “sector perform” rating to an “outperform” rating and set a C$12.00 price objective for the company in a research note on Tuesday. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$12.88.

Whitecap Resources Stock Performance

Shares of TSE:WCP opened at C$8.79 on Monday. The company has a market cap of C$5.13 billion, a P/E ratio of 5.93, a PEG ratio of -0.33 and a beta of 2.67. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. Whitecap Resources has a one year low of C$6.87 and a one year high of C$11.31. The business’s 50-day simple moving average is C$8.35 and its 200 day simple moving average is C$9.45.

Insider Activity

In related news, Director Grant Bradley Fagerheim bought 5,000 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of C$7.60 per share, with a total value of C$38,000.00. Also, Senior Officer Thanh Chan Kang purchased 9,720 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of C$8.43 per share, for a total transaction of C$81,939.60. Insiders bought a total of 123,120 shares of company stock worth $1,032,336 over the last 90 days. 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.