National Bank Financial Forecasts Strong Price Appreciation for Whitecap Resources (TSE:WCP) Stock

Key Points

• National Bank Financial raised Whitecap Resources’ price target to C$27 from C$26 and maintained an “outperform” rating, implying 54.2% upside from the prior close.
• Analyst sentiment remains positive: Whitecap has an overall “Buy” rating, with three “Strong Buy” and ten “Buy” recommendations; the average price target is C$18.91.
• Company insiders recently bought shares, including a 10,000-share purchase by Director Grant Bradley Fagerheim and a 7,500-share purchase by insider Joseph Adam Wong.

Whitecap Resources (TSE:WCP - Get Free Report) had its price target upped by investment analysts at National Bank Financial from C$26.00 to C$27.00 in a report issued on Wednesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's target price indicates a potential upside of 54.20% from the stock's previous close.

Several other equities analysts have also recently issued reports on WCP. TD lifted their price objective on Whitecap Resources from C$18.00 to C$21.00 and gave the stock a "buy" rating in a report on Friday, September 11th. Desjardins set a C$22.00 target price on Whitecap Resources and gave the company a "buy" rating in a report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$18.91.

Whitecap Resources Trading Down 2.8%

Shares of Whitecap Resources stock opened at C$17.51 on Wednesday. Whitecap Resources has a 12-month low of C$10.08 and a 12-month high of C$19.39. The company has a current ratio of 0.56, a quick ratio of 0.67 and a debt-to-equity ratio of 24.14. The stock has a market cap of C$21.29 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of -0.33 and a beta of 0.21. The company has a 50-day moving average of C$17.56 and a two-hundred day moving average of C$16.22.

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. The company had revenue of C$2.35 billion during the quarter. Whitecap Resources had a net margin of 19.66% and a return on equity of 12.87%. On average, research analysts anticipate that Whitecap Resources will post 1.1226131 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Grant Bradley Fagerheim bought 10,000 shares of Whitecap Resources stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average price of C$14.46 per share, with a total value of C$144,600.00. Following the purchase, the director owned 3,308,099 shares in the company, valued at C$47,835,111.54. This represents a 0.30% increase in their ownership of the stock. Also, insider Joseph Adam Wong purchased 7,500 shares of the company's stock in a transaction on Monday, July 6th. The shares were bought at an average cost of C$14.46 per share, with a total value of C$108,450.00. Following the transaction, the insider directly owned 111,416 shares of the company's stock, valued at C$1,611,075.36. This represents a 7.22% increase in their position. Company insiders own 0.84% of the company's stock.

Whitecap Resources Company Profile

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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