Whitecap Resources (TSE:WCP) Price Target Raised to C$15.00

Whitecap Resources (TSE:WCP) had its target price upped by investment analysts at BMO Capital Markets from C$13.00 to C$15.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 10.54% from the company’s previous close.

Several other equities analysts also recently issued reports on WCP. Capital One Financial upgraded Whitecap Resources to a “strong-buy” rating in a research report on Monday, October 27th. Scotiabank lifted their price objective on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Desjardins boosted their target price on Whitecap Resources from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Raymond James Financial downgraded shares of Whitecap Resources from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from C$15.00 to C$16.00 in a research report on Tuesday. Finally, TD Securities lifted their price objective on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Whitecap Resources presently has an average rating of “Buy” and an average target price of C$14.94.

Whitecap Resources Stock Performance

WCP stock traded down C$0.19 during midday trading on Tuesday, reaching C$13.57. The company had a trading volume of 4,716,080 shares, compared to its average volume of 6,063,189. The firm has a market capitalization of C$16.47 billion, a PE ratio of 12.01, a P/E/G ratio of -0.33 and a beta of 0.69. The stock has a 50 day moving average price of C$12.04 and a 200 day moving average price of C$11.22. Whitecap Resources has a fifty-two week low of C$6.87 and a fifty-two week high of C$13.98. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap’s Canadian assets. To extract petroleum products from its resources, the company uses horizontal drilling, in addition to multistage fracturing technology. Crude oil is the leading revenue generator out of the basket of energy products sold by Whitecap.