ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Whitecap Resources (TSE:WCP) Stock

Key Points

• ATB Cormark raised Whitecap Resources’ price target from C$19.00 to C$23.00 and maintained an “outperform” rating, implying 13.58% potential upside.
• Several other brokerages also increased their targets, with ratings ranging from “buy” to “outperform.” MarketBeat’s consensus rating is “Buy,” with an average target price of C$19.77.
• Whitecap shares traded at C$20.25, near their 52-week high of C$20.53. The company recently reported C$0.73 quarterly EPS on C$2.35 billion in revenue, with analysts expecting C$1.12 EPS for the full fiscal year.

Whitecap Resources (TSE:WCP - Get Free Report) had its target price raised by equities researchers at ATB Cormark Capital Markets from C$19.00 to C$23.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. ATB Cormark Capital Markets's price target indicates a potential upside of 13.58% from the company's current price.

Other analysts have also issued research reports about the stock. TD increased their price objective on shares of Whitecap Resources from C$18.00 to C$21.00 and gave the stock a "buy" rating in a research note on Friday, September 11th. Royal Bank Of Canada boosted 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 report on Wednesday. Desjardins boosted their target price on shares of Whitecap Resources from C$23.00 to C$24.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, National Bank Financial upped their price target on shares of Whitecap Resources from C$27.00 to C$28.00 and gave the company an "outperform" rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to MarketBeat, Whitecap Resources has a consensus rating of "Buy" and a consensus target price of C$19.77.

Whitecap Resources Stock Performance

TSE:WCP traded up C$0.15 during midday trading on Thursday, hitting C$20.25. The company's stock had a trading volume of 5,572,983 shares, compared to its average volume of 6,134,488. Whitecap Resources has a fifty-two week low of C$10.18 and a fifty-two week high of C$20.53. The firm's 50 day moving average is C$18.38 and its 200-day moving average is C$16.68. The company has a debt-to-equity ratio of 24.14, a current ratio of 0.56 and a quick ratio of 0.67. The firm has a market cap of C$24.62 billion, a P/E ratio of 18.08, a P/E/G ratio of -0.33 and a beta of 0.29.

Whitecap Resources (TSE:WCP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$0.73 earnings per share (EPS) for the quarter. Whitecap Resources had a net margin of 19.66% and a return on equity of 12.87%. The company had revenue of C$2.35 billion during the quarter. Equities analysts anticipate that Whitecap Resources will post 1.12 earnings per share for the current fiscal year.

About Whitecap Resources

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.

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