Whitecap Resources Inc. (WCP) Earns Outperform Rating from Raymond James Financial, Inc.

Whitecap Resources Inc. (TSE:WCP)‘s stock had its “outperform” rating reaffirmed by equities researchers at Raymond James Financial, Inc. in a report issued on Thursday. They currently have a C$14.00 price target on the stock. Raymond James Financial, Inc.’s price objective indicates a potential upside of 41.84% from the company’s current price.

Several other equities research analysts also recently issued reports on WCP. Scotiabank reiterated an “outperform” rating and set a C$14.50 price objective on shares of Whitecap Resources in a research note on Friday, January 6th. TD Securities reiterated a “buy” rating and set a C$15.00 price objective on shares of Whitecap Resources in a research note on Tuesday, February 28th. Desjardins boosted their price objective on shares of Whitecap Resources from C$12.00 to C$14.00 in a research note on Wednesday, December 21st. Canaccord Genuity boosted their price objective on shares of Whitecap Resources from C$13.00 to C$14.50 and gave the stock a “buy” rating in a research note on Friday, January 6th. Finally, BMO Capital Markets boosted their price objective on shares of Whitecap Resources from C$13.00 to C$16.00 in a research note on Wednesday, December 21st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Whitecap Resources has an average rating of “Buy” and an average price target of C$14.30.

Analyst Recommendations for Whitecap Resources (TSE:WCP)

Whitecap Resources (TSE:WCP) traded down 0.10% during mid-day trading on Thursday, hitting $9.87. 1,068,526 shares of the stock traded hands. Whitecap Resources has a 12-month low of $8.60 and a 12-month high of $12.90. The company has a market cap of $3.64 billion and a price-to-earnings ratio of 19.74. The firm’s 50-day moving average is $10.29 and its 200-day moving average is $11.06.

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In other news, insider Jeffery Byron Zdunich bought 5,600 shares of Whitecap Resources stock in a transaction dated Tuesday, March 21st. The shares were acquired at an average cost of C$9.85 per share, with a total value of C$55,160.00. Also, Director Grant Bradley Fagerheim bought 6,000 shares of Whitecap Resources stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of C$10.09 per share, for a total transaction of C$60,540.00. Over the last three months, insiders have bought 73,511 shares of company stock worth $179,007.

Whitecap Resources Company Profile

Whitecap Resources Inc is a Canada-based oil-weighted growth company focused on its existing assets enhanced by oil-based acquisitions. Its assets include Boundary Lake property, which is located in northeast British Columbia; Valhalla North property, which is located in the Peace River Arch area of Alberta and is characterized by shallow declines and a production base, and Deep Basin properties, which include Karr, Simonette, Kakwa, Elmworth and Wapiti, which are located southwest of Grande Prairie, Alberta.

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