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

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

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

Whitecap Resources Price Performance

Whitecap Resources stock opened at C$8.79 on Monday. Whitecap Resources has a 12 month low of C$6.87 and a 12 month high of C$11.31. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The business has a 50 day simple moving average of C$8.35 and a 200-day simple moving average of C$9.45. The stock has a market capitalization of C$5.13 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67.

Insider Activity at Whitecap Resources

In related news, insider Whitecap Resources Inc. sold 619,983 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of C$8.72, for a total transaction of C$5,406,251.76. Also, Director Grant Bradley Fagerheim bought 15,000 shares of Whitecap Resources stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average price of C$8.06 per share, for a total transaction of C$120,900.00. Insiders have purchased a total of 123,120 shares of company stock valued at $1,032,336 over the last quarter. Insiders own 0.84% of the company’s stock.

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.