CIBC Issues Pessimistic Forecast for Whitecap Resources (TSE:WCP) Stock Price

Whitecap Resources (TSE:WCP) had its price target dropped by analysts at CIBC from C$14.50 to C$13.00 in a report released on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 73.10% from the stock’s previous close.

A number of other equities research analysts have also weighed in on WCP. Raymond James upgraded Whitecap Resources from a “market perform” rating to an “outperform” rating and set a C$13.00 price objective on the stock in a research note on Tuesday, March 11th. Desjardins set a C$12.00 target price on Whitecap Resources and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Finally, National Bankshares cut 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 report on Thursday, January 30th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Whitecap Resources currently has an average rating of “Buy” and a consensus target price of C$13.34.

Whitecap Resources Trading Down 6.7 %

Shares of WCP stock traded down C$0.54 during mid-day trading on Thursday, hitting C$7.51. The company’s stock had a trading volume of 4,819,631 shares, compared to its average volume of 4,156,972. The company has a market cap of C$4.38 billion, a PE ratio of 5.07, a P/E/G ratio of -0.33 and a beta of 2.67. The company’s fifty day simple moving average is C$9.19 and its 200-day simple moving average is C$9.89. 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 52 week low of C$6.87 and a 52 week high of C$11.31.

Insiders Place Their Bets

In other news, Senior Officer Thanh Chan Kang acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average price of C$8.45 per share, with a total value of C$84,500.00. Also, Director Grant Bradley Fagerheim bought 5,000 shares of the company’s stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of C$7.60 per share, for a total transaction of C$38,000.00. Over the last quarter, insiders have acquired 98,120 shares of company stock worth $835,336. 0.84% of the stock is currently owned by company insiders.

Whitecap Resources Company Profile

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.