Whitecap Resources (TSE:WCP) Price Target Raised to C$23.50

Whitecap Resources (TSE:WCP) had its price objective raised by Canaccord Genuity Group from C$23.00 to C$23.50 in a research report released on Thursday,BayStreet reports. The firm currently has a buy rating on the stock.

Several other research firms also recently issued reports on WCP. Desjardins lifted their price target on Whitecap Resources from C$23.00 to C$24.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. National Bank Financial raised their target price on shares of Whitecap Resources from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Tuesday, October 20th. ATB Cormark Capital Markets lifted their price target on Whitecap Resources from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. TD upped their price objective on shares of Whitecap Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a report on Friday, September 11th. Finally, Royal Bank Of Canada upped their target price on Whitecap Resources from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$20.50.

Whitecap Resources Price Performance

Shares of WCP opened at C$19.62 on Thursday. The stock’s 50-day moving average price is C$18.74 and its two-hundred day moving average price is C$15.91. Whitecap Resources has a 1 year low of C$10.18 and a 1 year high of C$20.79. The stock has a market cap of C$23.87 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of -0.33 and a beta of 0.29. The company has a current ratio of 0.60, a quick ratio of 0.67 and a debt-to-equity ratio of 23.99.

Whitecap Resources (TSE:WCP) last posted its earnings results on Wednesday, October 28th. The company reported C$0.27 earnings per share for the quarter. Whitecap Resources had a return on equity of 13.77% and a net margin of 19.74%. The firm had revenue of C$2.14 billion for the quarter. On average, equities analysts predict that Whitecap Resources will post 1.12 earnings per share for the current year.

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.