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

Whitecap Resources (TSE:WCP) was upgraded by stock analysts at Tudor Pickering to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on WCP. Desjardins upgraded shares of Whitecap Resources from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$12.00 to C$12.50 in a research report on Tuesday, August 26th. Raymond James Financial lifted their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 24th. Finally, Scotiabank boosted their price target on shares of Whitecap Resources from C$12.00 to C$14.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$13.86.

Whitecap Resources Trading Down 1.0%

Whitecap Resources stock opened at C$10.50 on Wednesday. The stock has a market cap of C$12.93 billion, a P/E ratio of 7.19, a PEG ratio of -0.33 and a beta of 0.66. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. Whitecap Resources has a 1 year low of C$6.87 and a 1 year high of C$11.30. The firm’s 50 day moving average price is C$10.50 and its 200-day moving average price is C$9.46.

Insiders Place Their Bets

In other Whitecap Resources news, Director Grant Bradley Fagerheim purchased 15,000 shares of Whitecap Resources stock in a transaction that occurred 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 completion of the transaction, 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 position. Insiders have acquired a total of 25,000 shares of company stock valued at $264,150 in the last quarter. 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.