Raymond James Lowers Whitecap Resources (TSE:WCP) Price Target to C$2.00

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Whitecap Resources (TSE:WCP) had its price target reduced by stock analysts at Raymond James from C$3.00 to C$2.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James’ price objective would suggest a potential upside of 78.57% from the stock’s current price.

Other analysts also recently issued reports about the stock. Laurentian set a C$3.00 price target on shares of Whitecap Resources in a report on Wednesday, March 18th. Scotiabank reduced their price target on shares of Whitecap Resources from C$7.50 to C$2.00 in a report on Wednesday, March 18th. Royal Bank of Canada reduced their price target on shares of Whitecap Resources from C$7.25 to C$2.25 in a report on Monday, March 16th. Cormark reduced their price target on shares of Whitecap Resources from C$6.50 to C$3.50 in a report on Wednesday, March 18th. Finally, Eight Capital reduced their price target on shares of Whitecap Resources from C$3.50 to C$3.15 in a report on Wednesday, March 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of C$3.18.

Shares of Whitecap Resources stock opened at C$1.12 on Wednesday. The company has a debt-to-equity ratio of 42.94, a current ratio of 0.83 and a quick ratio of 0.83. Whitecap Resources has a fifty-two week low of C$0.73 and a fifty-two week high of C$5.98. The firm has a fifty day moving average price of C$3.25 and a two-hundred day moving average price of C$4.23. The company has a market cap of $368.66 million and a PE ratio of -2.95.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings results on Thursday, February 27th. The company reported C$0.08 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.01). The business had revenue of C$369.19 million for the quarter, compared to analysts’ expectations of C$367.70 million. Analysts expect that Whitecap Resources will post 0.17 earnings per share for the current fiscal year.

In other Whitecap Resources news, Director Grant Bradley Fagerheim acquired 15,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was bought at an average price of C$2.57 per share, for a total transaction of C$38,554.50. Following the purchase, the director now owns 704,000 shares in the company, valued at approximately C$1,809,491.20. Also, Senior Officer Darin Roy Dunlop acquired 25,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average price of C$2.22 per share, with a total value of C$55,375.00. Following the purchase, the insider now owns 259,432 shares in the company, valued at approximately C$574,641.88. In the last 90 days, insiders bought 65,000 shares of company stock valued at $127,680.

Whitecap Resources Company Profile

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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Analyst Recommendations for Whitecap Resources (TSE:WCP)

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