Whitecap Resources (TSE:WCP) Earns Strong-Buy Rating from Raymond James

Whitecap Resources (TSE:WCP)‘s stock had its “strong-buy” rating reiterated by analysts at Raymond James in a note issued to investors on Friday, BayStreet.CA reports. They presently have a C$6.50 price target on the stock. Raymond James’ price target indicates a potential upside of 60.49% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity reduced their price objective on Whitecap Resources from C$8.00 to C$7.50 in a research report on Tuesday, July 9th. CIBC reduced their price objective on Whitecap Resources from C$9.00 to C$7.50 in a research report on Thursday, July 18th. Laurentian reduced their price objective on Whitecap Resources from C$10.00 to C$9.50 in a research report on Wednesday, July 24th. National Bank Financial reduced their price objective on Whitecap Resources from C$9.50 to C$7.50 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, BMO Capital Markets reduced their price objective on Whitecap Resources from C$7.50 to C$7.00 in a research report on Friday, June 14th.

Shares of WCP stock opened at C$4.05 on Friday. The company has a market cap of $1.67 billion and a price-to-earnings ratio of 96.43. Whitecap Resources has a twelve month low of C$3.80 and a twelve month high of C$8.90. The company has a debt-to-equity ratio of 42.76, a current ratio of 0.69 and a quick ratio of 0.69. The stock’s fifty day moving average price is C$4.22.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings data on Wednesday, May 1st. The company reported C($0.13) earnings per share for the quarter. The company had revenue of C$354.86 million during the quarter. On average, sell-side analysts anticipate that Whitecap Resources will post 0.44 earnings per share for the current fiscal year.

In related news, Senior Officer Thanh Chan Kang bought 50,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of C$4.00 per share, with a total value of C$200,000.00. Following the acquisition, the insider now owns 555,728 shares of the company’s stock, valued at C$2,222,912. Also, Senior Officer David Michael Mombourquette bought 11,900 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of C$4.20 per share, for a total transaction of C$49,980.00. Following the completion of the acquisition, the insider now directly owns 291,900 shares in the company, valued at approximately C$1,225,980. Insiders have acquired a total of 74,495 shares of company stock worth $308,485 over the last ninety days.

About Whitecap Resources

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan. Whitecap Resources Inc is headquartered in Calgary, Canada.

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