Whitecap Resources (TSE:WCP) Given New C$20.00 Price Target at Raymond James Financial

Key Points

• Raymond James raised its price target on Whitecap to C$20.00 (from C$18.00) and kept an "outperform" rating, implying roughly a 24.84% upside from the current share price.
• Multiple firms have recently boosted targets and ratings—three analysts have "Strong Buy" and ten have "Buy"—giving Whitecap an overall consensus rating of Buy and an average target of C$16.73.
• The stock traded at C$16.02 with a market cap of C$19.45 billion and a P/E of 16.18; last quarter Whitecap reported C$0.02 EPS and C$1.84 billion in revenue.

Whitecap Resources (TSE:WCP - Get Free Report) had its target price boosted by Raymond James Financial from C$18.00 to C$20.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price target suggests a potential upside of 24.84% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. ATB Cormark Capital Markets boosted their price target on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the stock an "outperform" rating in a research report on Thursday. BMO Capital Markets lifted their price objective on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 24th. Royal Bank Of Canada upped their target price on shares of Whitecap Resources from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. National Bank Financial increased their price target on shares of Whitecap Resources from C$15.00 to C$16.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. Finally, Scotiabank raised Whitecap Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 19th. Three research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Whitecap Resources has an average rating of "Buy" and an average target price of C$16.73.

Whitecap Resources Stock Performance

Shares of TSE:WCP remained flat at C$16.02 during mid-day trading on Thursday. The company had a trading volume of 6,111,110 shares, compared to its average volume of 6,859,100. The company has a debt-to-equity ratio of 40.03, a quick ratio of 0.67 and a current ratio of 0.68. The firm has a market cap of C$19.45 billion, a P/E ratio of 16.18, a P/E/G ratio of -0.33 and a beta of 0.27. Whitecap Resources has a 12 month low of C$7.55 and a 12 month high of C$16.28. The business has a 50-day moving average of C$14.49 and a 200 day moving average of C$12.54.

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

Insider Activity at Whitecap Resources

In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 5,000 shares of the firm's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of C$13.76, for a total transaction of C$68,800.00. Following the transaction, the director owned 3,278,099 shares of the company's stock, valued at approximately C$45,106,642.24. This trade represents a 0.15% decrease in their position. Insiders sold a total of 6,100 shares of company stock worth $83,826 in the last 90 days. Company insiders own 0.84% of the company's stock.

Whitecap Resources Company Profile

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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