Whitecap Resources (TSE:WCP) Stock Price Expected to Rise, Desjardins Analyst Says

Key Points

• Desjardins raised Whitecap Resources’ price target from C$23.00 to C$24.00 and maintained a “buy” rating, implying 19.28% upside from the previous close.
• Analyst sentiment remains positive: Whitecap has an average “Buy” rating, including two “Strong Buy” and ten “Buy” ratings, though the consensus price target is C$19.18.
• Whitecap shares traded at C$20.12, near their 12-month high of C$20.53. The company reported quarterly revenue of C$2.35 billion and EPS of C$0.73, while analysts forecast full-year EPS of C$1.12.

Whitecap Resources (TSE:WCP - Get Free Report) had its target price hoisted by equities researchers at Desjardins from C$23.00 to C$24.00 in a research note issued on Tuesday, BayStreet reports. The firm presently has a "buy" rating on the stock. Desjardins' price target indicates a potential upside of 19.28% from the stock's previous close.

Other equities research 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 report on Friday, September 11th. National Bank Financial boosted their target price 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. Two analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to MarketBeat, Whitecap Resources presently has an average rating of "Buy" and a consensus price target of C$19.18.

Whitecap Resources Price Performance

WCP traded down C$0.14 during trading on Tuesday, hitting C$20.12. The company's stock had a trading volume of 3,493,292 shares, compared to its average volume of 6,136,864. The company has a quick ratio of 0.67, a current ratio of 0.56 and a debt-to-equity ratio of 24.14. The stock has a market capitalization of C$24.46 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of -0.33 and a beta of 0.29. The firm's 50 day moving average price is C$18.26 and its two-hundred day moving average price is C$16.60. Whitecap Resources has a 12 month low of C$10.08 and a 12 month high of C$20.53.

Whitecap Resources (TSE:WCP - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported C$0.73 EPS for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%. The company had revenue of C$2.35 billion for the quarter. Sell-side analysts forecast 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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