Whitecap Resources (TSE:WCP) Price Target Raised to C$21.00

Key Points

• TD raised Whitecap Resources’ price target to C$21.00 from C$18.00 and maintained a “buy” rating, implying 13.76% upside from the prior close.
• Analyst sentiment remains positive: Whitecap has an average “Buy” rating and a consensus target price of C$18.82, with other firms setting targets between C$20.00 and C$26.00.
• Whitecap reported quarterly EPS of C$0.73 on C$2.35 billion in revenue, while insiders purchased 20,500 shares worth approximately C$299,490 during the last quarter.

Whitecap Resources (TSE:WCP - Get Free Report) had its target price upped by research analysts at TD from C$18.00 to C$21.00 in a research note issued to investors on Friday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. TD's price objective would indicate a potential upside of 13.76% from the company's previous close.

WCP has been the subject of a number of other reports. Desjardins set a C$22.00 price objective on Whitecap Resources and gave the stock a "buy" rating in a research note on Friday, July 17th. National Bank Financial raised their target price on Whitecap Resources from C$25.00 to C$26.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada boosted their target price on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 26th. Three investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat.com, Whitecap Resources presently has an average rating of "Buy" and a consensus target price of C$18.82.

Whitecap Resources Price Performance

TSE:WCP traded down C$0.25 during trading hours on Friday, reaching C$18.46. The company had a trading volume of 3,106,393 shares, compared to its average volume of 6,186,113. Whitecap Resources has a one year low of C$10.08 and a one year high of C$19.08. The firm has a market capitalization of C$22.45 billion, a PE ratio of 16.48, a PEG ratio of -0.33 and a beta of 0.21. The stock has a 50-day moving average of C$16.78 and a two-hundred day moving average of C$15.79. The company has a quick ratio of 0.67, a current ratio of 0.56 and a debt-to-equity ratio of 24.14.

Whitecap Resources (TSE:WCP - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported C$0.73 earnings per share (EPS) for the quarter. The business had revenue of C$2.35 billion during the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%. Analysts forecast that Whitecap Resources will post 1.1226131 earnings per share for the current year.

Insider Activity

In related news, insider Joseph Adam Wong bought 7,500 shares of the company's stock in a transaction that occurred on Monday, July 6th. The shares were acquired at an average price of C$14.46 per share, for a total transaction of C$108,450.00. Following the completion of the acquisition, the insider owned 111,416 shares of the company's stock, valued at approximately C$1,611,075.36. The trade was a 7.22% increase in their position. Also, insider Travis Bjarne Tweit purchased 3,000 shares of Whitecap Resources stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average cost of C$15.48 per share, with a total value of C$46,440.00. Following the completion of the transaction, the insider directly owned 230,204 shares of the company's stock, valued at approximately C$3,563,557.92. The trade was a 1.32% increase in their position. Insiders purchased 20,500 shares of company stock worth $299,490 in the last quarter. Corporate insiders own 0.84% of the company's stock.

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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