Whitecap Resources (TSE:WCP) Price Target Raised to C$19.00 at Scotia

Key Points

• Scotia raised its price target on Whitecap Resources to C$19.00 (from C$17.00) and kept a "sector outperform" rating, implying roughly an 18.6% upside from the current share price.
• Multiple other brokers (TD, National Bank, Desjardins, ATB Cormark, RBC) have also bumped targets and ratings; MarketBeat shows an average analyst rating of "Buy" with an average target of C$16.73.
• WCP is trading around C$16.02 with a market cap of about C$19.45 billion and a P/E of 16.18; the company reported C$0.02 EPS on C$1.84 billion revenue for the most recent quarter.

Whitecap Resources (TSE:WCP - Get Free Report) had its price objective upped by research analysts at Scotia from C$17.00 to C$19.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "sector outperform" rating on the stock. Scotia's target price would suggest a potential upside of 18.60% from the company's current price.

Several other equities analysts have also issued reports on WCP. TD Securities lifted their price target on Whitecap Resources from C$13.00 to C$15.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. National Bank Financial increased their price objective on shares of Whitecap Resources from C$15.00 to C$16.00 and gave the company an "outperform" rating in a research report on Tuesday, February 3rd. Desjardins lifted their target price on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. ATB Cormark Capital Markets upped their target price on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Royal Bank Of Canada increased 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 report on Monday, April 13th. Three investment analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Whitecap Resources has an average rating of "Buy" and an average target price of C$16.73.

Whitecap Resources Price Performance

Shares of WCP stock remained flat at C$16.02 during trading hours on Thursday. 6,111,110 shares of the stock traded hands, 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 stock has a 50-day moving average price of C$14.49 and a two-hundred day moving average price of C$12.54. Whitecap Resources has a 1 year low of C$7.55 and a 1 year high of C$16.28. 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.

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

Insiders Place Their Bets

In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 5,000 shares of the business's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of C$13.76, for a total value of C$68,800.00. Following the completion of the transaction, the director owned 3,278,099 shares of the company's stock, valued at approximately C$45,106,642.24. The trade was a 0.15% decrease in their position. Over the last ninety days, insiders sold 6,100 shares of company stock valued at $83,826. 0.84% of the stock is currently owned by insiders.

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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