Whitecap Resources’ (WCP) Buy Rating Reiterated at Industrial Alliance Securities

Whitecap Resources (TSE:WCP)‘s stock had its “buy” rating restated by investment analysts at Industrial Alliance Securities in a report released on Wednesday. They currently have a C$13.00 price objective on the stock. Industrial Alliance Securities’ price target would suggest a potential upside of 31.58% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Scotiabank reaffirmed an “outperform” rating and set a C$13.50 price target on shares of Whitecap Resources in a research note on Thursday, May 17th. National Bank Financial raised their price target on Whitecap Resources from C$11.50 to C$14.50 and gave the stock an “outperform” rating in a research note on Thursday, May 10th. Raymond James raised their price target on Whitecap Resources from C$13.00 to C$13.25 and gave the stock a “strong-buy” rating in a research note on Thursday, May 3rd. GMP Securities cut their price target on Whitecap Resources from C$13.75 to C$13.25 in a research note on Thursday, March 1st. Finally, Laurentian raised their price target on Whitecap Resources from C$13.00 to C$14.00 in a research note on Thursday, May 3rd. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$13.08.

Shares of Whitecap Resources opened at C$9.88 on Wednesday, according to MarketBeat.com. Whitecap Resources has a one year low of C$7.40 and a one year high of C$10.36.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings data on Wednesday, February 28th. The company reported C$0.09 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.07 by C$0.02. Whitecap Resources had a return on equity of 0.46% and a net margin of 1.91%. The firm had revenue of C$285.01 million during the quarter, compared to analyst estimates of C$256.40 million.

In other Whitecap Resources news, Director Heather J. Culbert bought 20,000 shares of the stock in a transaction on Wednesday, March 28th. The shares were purchased at an average price of C$7.75 per share, with a total value of C$155,000.00. Also, Director Grant Bradley Fagerheim bought 22,300 shares of the stock in a transaction on Monday, March 5th. The stock was acquired at an average cost of C$7.60 per share, for a total transaction of C$169,480.00. Insiders purchased a total of 53,800 shares of company stock worth $413,605 over the last three months.

Whitecap Resources Company Profile

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in the Western Canada Sedimentary Basin. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan.

Analyst Recommendations for Whitecap Resources (TSE:WCP)

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