Royal Bank Of Canada Issues Positive Forecast for Whitecap Resources (TSE:WCP) Stock Price

Key Points

• Royal Bank of Canada raised Whitecap Resources’ price target from C$20.00 to C$22.00 and maintained an “outperform” rating, implying 9.56% potential upside.
• Other brokerages also increased their targets, with Desjardins at C$24.00, National Bank Financial at C$28.00, and TD at C$21.00. Analysts collectively maintain a “Buy” consensus, though the average target is C$19.36.
• Whitecap shares recently traded at C$20.08, near their 52-week high of C$20.53. The company reported quarterly revenue of C$2.35 billion and EPS of C$0.73.

Whitecap Resources (TSE:WCP - Get Free Report) had its target price lifted by equities researchers at Royal Bank Of Canada from C$20.00 to C$22.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 9.56% from the stock's current price.

Several other brokerages also recently weighed in on WCP. Desjardins lifted their price target on shares of Whitecap Resources from C$23.00 to C$24.00 and gave the company a "buy" rating in a report on Tuesday. National Bank Financial increased their price objective on shares of Whitecap Resources from C$27.00 to C$28.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of C$19.36.

Whitecap Resources Stock Performance

Shares of TSE:WCP traded down C$0.02 during mid-day trading on Wednesday, reaching C$20.08. 2,899,381 shares of the company traded hands, compared to its average volume of 6,128,232. The company's 50 day moving average price is C$18.32 and its 200-day moving average price is C$16.64. The firm has a market cap of C$24.42 billion, a PE ratio of 17.93, a PEG ratio of -0.33 and a beta of 0.29. The company has a debt-to-equity ratio of 24.14, a current ratio of 0.56 and a quick ratio of 0.67. Whitecap Resources has a 52 week low of C$10.08 and a 52 week high of C$20.53.

Whitecap Resources (TSE:WCP - Get Free Report) last released its 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. On average, equities analysts expect that Whitecap Resources will post 1.12 EPS 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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