Whitecap Resources Inc. (TSE:WCP) had its target price decreased by CIBC from C$14.50 to C$13.00 in a report released on Wednesday morning, StockTargetPrices.com reports.

Shares of Whitecap Resources (TSE:WCP) opened at 7.95 on Wednesday. Whitecap Resources has a 52-week low of $5.80 and a 52-week high of $15.62. The stock’s 50 day moving average is $8.52 and its 200 day moving average is $10.82. The stock’s market cap is $2.38 billion.

In related news, Director Grant Bradley Fagerheim bought 30,000 shares of the stock in a transaction dated Thursday, November 19th. The shares were purchased at an average price of C$11.67 per share, with a total value of C$350,100.00. Also, insider Jeffery Byron Zdunich sold 69,986 shares of the business’s stock in a transaction on Thursday, December 3rd. The stock was sold at an average price of C$11.26, for a total transaction of C$788,042.36.

Several other research firms have also recently weighed in on WCP. FirstEnergy Capital decreased their price objective on shares of Whitecap Resources to C$13.75 and set an outperform rating for the company in a report on Wednesday, December 16th. AltaCorp Capital cut their target price on shares of Whitecap Resources from C$12.00 to C$11.50 in a research report on Wednesday, January 20th. Barclays cut their target price on shares of Whitecap Resources from C$13.00 to C$12.00 and set an overweight rating for the company in a research report on Wednesday, December 16th. Clarus Securities restated a buy rating on shares of Whitecap Resources in a research report on Monday, October 26th. Finally, TD Securities cut their target price on shares of Whitecap Resources from C$13.50 to C$12.50 and set an action list buy rating for the company in a research report on Wednesday, January 20th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Whitecap Resources currently has an average rating of Buy and a consensus target price of C$12.27.

Whitecap Resources Inc. is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids in Western Canada. The Company’s activities are concentrated primarily in Northwest Central Alberta and Southwest Saskatchewan. In May 2014, the Company acquired certain strategic light oil assets focused primarily in Whitecap’s Pembina Cardium / West Central core area, as well as at Boundary Lake in northeast B.C.Concurrent disposition of certain Nisku natural gas production and related facilities located in the Pembina area to Keyera Corp.

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