Insider Buying: Whitecap Resources (TSE:WCP) Insider Acquires C$55,335.00 in Stock

Whitecap Resources Inc. (TSE:WCP) insider Thanh Chan Kang bought 3,100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was bought at an average cost of C$17.85 per share, for a total transaction of C$55,335.00. Following the completion of the acquisition, the insider owned 487,375 shares in the company, valued at C$8,699,643.75. This trade represents a 0.64% increase in their position.

Thanh Chan Kang also recently made the following trade(s):

• On Monday, November 2nd, Thanh Chan Kang bought 5,000 shares of Whitecap Resources stock. The shares were bought at an average price of C$18.78 per share, for a total transaction of C$93,900.00.

Whitecap Resources Stock Performance

TSE:WCP traded down C$1.23 during mid-day trading on Wednesday, hitting C$17.37. 8,583,058 shares of the company traded hands, compared to its average volume of 6,205,743. The company has a quick ratio of 0.67, a current ratio of 0.60 and a debt-to-equity ratio of 23.99. The stock’s fifty day moving average price is C$18.76 and its 200-day moving average price is C$15.98. The firm has a market cap of C$21.13 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of -0.33 and a beta of 0.29. Whitecap Resources Inc. has a one year low of C$10.26 and a one year high of C$20.79.

Whitecap Resources (TSE:WCP) last released its earnings results on Wednesday, October 28th. The company reported C$0.27 EPS for the quarter. Whitecap Resources had a net margin of 19.74% and a return on equity of 13.77%. The company had revenue of C$2.14 billion for the quarter. Research analysts anticipate that Whitecap Resources Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WCP has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their target price on shares of Whitecap Resources from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Desjardins increased their price target on Whitecap Resources from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. ATB Cormark Capital Markets raised their price target on Whitecap Resources from C$19.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. National Bank Financial boosted their price objective on Whitecap Resources from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research report on Tuesday, October 20th. Finally, Canaccord Genuity Group boosted their price objective on Whitecap Resources from C$23.00 to C$23.50 and gave the company a “buy” rating in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to data from MarketBeat, Whitecap Resources presently has an average rating of “Buy” and a consensus target price of C$20.50.

Whitecap Resources Company Profile

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.