Whitecap Resources Inc. (TSE:WCP) had its target price upped by stock analysts at AltaCorp Capital from C$11.50 to C$12.00 in a research report issued to clients and investors on Thursday, ARN reports. The firm currently has a “buy” rating on the stock. AltaCorp Capital’s target price would suggest a potential upside of 50.94% from the stock’s current price.

Shares of Whitecap Resources (TSE:WCP) opened at 7.95 on Thursday. The stock has a 50 day moving average price of $8.52 and a 200-day moving average price of $10.82. Whitecap Resources has a 1-year low of $5.80 and a 1-year high of $15.62. The stock’s market capitalization is $2.38 billion.

In other news, 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 value of C$788,042.36. Also, Director Grant Bradley Fagerheim purchased 30,000 shares of Whitecap Resources stock in a transaction dated Thursday, November 19th. The stock was bought at an average cost of C$11.67 per share, with a total value of C$350,100.00.

A number of other brokerages have also recently commented on WCP. FirstEnergy Capital dropped their target price on Whitecap Resources to C$13.75 and set an “outperform” rating for the company in a report on Wednesday, December 16th. Barclays dropped their target price on Whitecap Resources from C$13.00 to C$12.00 and set an “overweight” rating for the company in a report on Wednesday, December 16th. CIBC dropped their target price on Whitecap Resources from C$17.00 to C$14.50 in a report on Thursday, January 14th. Clarus Securities reiterated a “buy” rating on shares of Whitecap Resources in a report on Monday, October 26th. Finally, Dundee Securities dropped their target price on Whitecap Resources from C$9.75 to C$7.75 and set a “buy” rating for the company in a report on Wednesday, January 20th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average 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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