Whitecap Resources (TSE:WCP) Given New C$18.50 Price Target at ATB Cormark Capital Markets

Key Points

• ATB Cormark raised its price target on Whitecap to C$18.50 (from C$17.50) and kept an "outperform" rating, implying roughly a 15.5% upside from the prior close.
• Several brokers (BMO, TD, RBC, Scotiabank, Desjardins) have recently bumped targets or upgraded the stock, leaving a consensus Buy rating with a consensus target of C$16.73.
• Shares traded around C$16.02 with a market cap of C$19.45B and a P/E of 16.18; the company reported Q1 EPS of C$0.02 on C$1.84B revenue, and insiders have sold modestly (insiders own 0.84%).

Whitecap Resources (TSE:WCP - Get Free Report) had its price objective upped by equities research analysts at ATB Cormark Capital Markets from C$17.50 to C$18.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target points to a potential upside of 15.48% from the company's previous close.

A number of other equities research analysts have also recently weighed in on WCP. BMO Capital Markets increased their price target on Whitecap Resources from C$13.00 to C$15.00 and gave the company an "outperform" rating in a research note on Tuesday, February 24th. TD Securities increased their price objective on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the company a "buy" rating in a research report on Tuesday, February 24th. Royal Bank Of Canada upped their price target on shares of Whitecap Resources from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. Scotiabank upgraded Whitecap Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 19th. Finally, Desjardins boosted their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, Whitecap Resources currently has a consensus rating of "Buy" and a consensus target price of C$16.73.

Whitecap Resources Stock Performance

Shares of Whitecap Resources stock remained flat at C$16.02 during trading on Thursday. 6,111,110 shares of the stock traded hands, compared to its average volume of 6,859,100. The firm has a market cap of C$19.45 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of -0.33 and a beta of 0.27. The stock has a fifty day moving average of C$14.49 and a two-hundred day moving average of C$12.54. Whitecap Resources has a one year low of C$7.55 and a one year high of C$16.28. The company has a debt-to-equity ratio of 40.03, a current ratio of 0.68 and a quick ratio of 0.67.

Whitecap Resources (TSE:WCP - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported C$0.02 earnings per share (EPS) for the quarter. Whitecap Resources had a net margin of 18.38% and a return on equity of 10.14%. The business had revenue of C$1.84 billion during the quarter. Equities research analysts forecast that Whitecap Resources will post 1.1226131 EPS for the current fiscal year.

Insider Activity at Whitecap Resources

In other news, Director Grant Bradley Fagerheim sold 5,000 shares of Whitecap Resources stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of C$13.76, for a total value of C$68,800.00. Following the completion of the sale, the director directly owned 3,278,099 shares in the company, valued at approximately C$45,106,642.24. The trade was a 0.15% decrease in their ownership of the stock. Insiders have sold 6,100 shares of company stock worth $83,826 over the last quarter. 0.84% of the stock is currently owned by company insiders.

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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