Whitecap Resources (TSE:WCP) PT Raised to C$14.00

Whitecap Resources (TSE:WCP) had its price target boosted by equities research analysts at Canaccord Genuity Group from C$12.50 to C$14.00 in a report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 35.53% from the company’s previous close.

A number of other equities analysts have also commented on WCP. CIBC cut their price objective on Whitecap Resources from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Desjardins boosted their price objective on Whitecap Resources from C$11.00 to C$11.50 and gave the company a “buy” rating in a report on Friday, February 23rd. Jefferies Financial Group set a C$11.00 price objective on Whitecap Resources and gave the company a “buy” rating in a report on Tuesday, February 27th. Stifel Nicolaus upped their price target on Whitecap Resources from C$12.25 to C$12.75 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, BMO Capital Markets set a C$13.00 price objective on Whitecap Resources and gave the stock an “outperform” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$13.27.

Whitecap Resources Stock Performance

TSE:WCP opened at C$10.33 on Wednesday. The stock’s 50-day simple moving average is C$9.80 and its 200 day simple moving average is C$9.65. Whitecap Resources has a twelve month low of C$8.15 and a twelve month high of C$11.91. The firm has a market capitalization of C$6.18 billion, a PE ratio of 7.08, a price-to-earnings-growth ratio of -0.33 and a beta of 2.81. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 25.25.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings results on Wednesday, February 21st. The company reported C$0.49 EPS for the quarter, beating analysts’ consensus estimates of C$0.30 by C$0.19. Whitecap Resources had a return on equity of 16.89% and a net margin of 27.52%. The firm had revenue of C$914.10 million for the quarter. On average, analysts anticipate that Whitecap Resources will post 1.2846626 EPS for the current fiscal year.

Insider Activity at Whitecap Resources

In related news, Director Grant Bradley Fagerheim acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were bought at an average cost of C$10.58 per share, for a total transaction of C$52,900.00. 0.74% of the stock is currently owned by corporate insiders.

About Whitecap Resources

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.