Whitecap Resources (TSE:WCP) Price Target Raised to C$23.50

Key Points

• Canaccord Genuity raised Whitecap Resources’ price target from C$23.00 to C$23.50 and maintained a “buy” rating, implying roughly 19.9% upside from the reported C$19.60 share price.
• Several other brokerages also increased their targets, with analyst sentiment broadly positive: MarketBeat reports one “Strong Buy” and ten “Buy” ratings, though the average price target is C$20.50.
• Whitecap shares fell 4.1% to C$19.60 in Thursday trading. The company recently reported C$0.27 in quarterly EPS on C$2.14 billion in revenue, with a 19.66% net margin.

Whitecap Resources (TSE:WCP - Get Free Report) had its price objective upped by stock analysts at Canaccord Genuity Group from C$23.00 to C$23.50 in a research note issued to investors on Thursday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 19.90% from the company's current price.

Several other brokerages have also commented on WCP. ATB Cormark Capital Markets raised their price objective on shares of Whitecap Resources from C$19.00 to C$23.00 and gave the stock an "outperform" rating in a report on Thursday, October 22nd. National Bank Financial upped their target price on Whitecap Resources from C$27.00 to C$28.00 and gave the stock an "outperform" rating in a report on Tuesday, October 20th. TD increased their target price on Whitecap Resources from C$18.00 to C$21.00 and gave the stock a "buy" rating in a research report on Friday, September 11th. Royal Bank Of Canada raised their target price on Whitecap Resources from C$20.00 to C$22.00 and gave the company an "outperform" rating in a research note on Wednesday, October 21st. Finally, 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 report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of C$20.50.

Whitecap Resources Trading Down 4.1%

Shares of TSE:WCP traded down C$0.83 during midday trading on Thursday, hitting C$19.60. 7,858,670 shares of the stock traded hands, compared to its average volume of 6,121,014. The stock has a market capitalization of C$23.83 billion, a PE ratio of 17.50, a P/E/G ratio of -0.33 and a beta of 0.29. The business's 50 day moving average is C$18.67 and its two-hundred day moving average is C$15.83. 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 has a one year low of C$10.18 and a one year high of C$20.79.

Whitecap Resources (TSE:WCP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported C$0.27 earnings per share for the quarter. The firm had revenue of C$2.14 billion for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%. As a group, research analysts forecast that Whitecap Resources will post 1.12 earnings per share for the current 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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