Whitecap Resources (TSE:WCP) Price Target Raised to C$15.50

Whitecap Resources (TSE:WCP) had its price target upped by Canaccord Genuity Group from C$14.00 to C$15.50 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 14.22% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Raymond James Financial downgraded Whitecap Resources from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from C$15.00 to C$16.00 in a research note on Tuesday. Desjardins lifted their price target on Whitecap Resources from C$13.50 to C$14.00 and gave the stock a “buy” rating in a report on Monday, January 26th. BMO Capital Markets upped their price objective on Whitecap Resources from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research note on Tuesday. National Bank Financial raised their target price on 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. Finally, Capital One Financial raised shares of Whitecap Resources to a “strong-buy” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$14.94.

Whitecap Resources Stock Down 1.4%

Shares of WCP traded down C$0.19 during trading hours on Tuesday, reaching C$13.57. 4,716,080 shares of the stock traded hands, compared to its average volume of 6,063,189. Whitecap Resources has a 52 week low of C$6.87 and a 52 week high of C$13.98. The company has a market cap of C$16.47 billion, a price-to-earnings ratio of 12.01, a PEG ratio of -0.33 and a beta of 0.69. The stock has a fifty day simple moving average of C$12.04 and a 200 day simple moving average of C$11.22. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58.

About Whitecap Resources

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap’s Canadian assets. To extract petroleum products from its resources, the company uses horizontal drilling, in addition to multistage fracturing technology. Crude oil is the leading revenue generator out of the basket of energy products sold by Whitecap.