Whitecap Resources (TSE:WCP) PT Raised to C$7.00

Whitecap Resources (TSE:WCP) had its target price raised by stock analysts at Scotiabank from C$6.50 to C$7.00 in a report issued on Wednesday, BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 10.76% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. BMO Capital Markets raised their price target on Whitecap Resources from C$7.00 to C$8.00 and gave the stock a “na” rating in a research note on Monday, March 15th. CIBC reissued an “outperform” rating and set a C$7.50 price target on shares of Whitecap Resources in a research note on Monday, May 17th. Royal Bank of Canada raised their price target on Whitecap Resources to C$7.50 and gave the stock an “outperform” rating in a research note on Tuesday, April 6th. Canaccord Genuity raised their price target on Whitecap Resources from C$7.50 to C$8.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 6th. Finally, Tudor Pickering reissued a “buy” rating and set a C$7.00 price target on shares of Whitecap Resources in a research note on Monday, May 17th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of C$7.13.

Shares of Whitecap Resources stock opened at C$6.32 on Wednesday. The stock has a market cap of C$4.00 billion and a PE ratio of 9.62. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 70.34. The business has a 50 day moving average of C$5.69. Whitecap Resources has a one year low of C$2.10 and a one year high of C$6.82.

Whitecap Resources (TSE:WCP) last announced its earnings results on Thursday, April 29th. The company reported C$0.04 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.07 by C($0.03). The firm had revenue of C$471.65 million during the quarter. Equities analysts expect that Whitecap Resources will post 0.49 EPS for the current year.

In related news, Director Gregory Scott Fletcher purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, May 4th. The shares were acquired at an average cost of C$5.39 per share, for a total transaction of C$26,950.00. Following the acquisition, the director now owns 126,083 shares of the company’s stock, valued at approximately C$679,587.37.

Whitecap Resources Company Profile

Whitecap Resources Inc, oil and gas company, acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southwest Saskatchewan. As of February 24, 2021, it had a total proved plus probable reserves of 507,287 thousand barrels of oil equivalent.

Further Reading: What are some reasons analysts would give stocks a buy rating?

Analyst Recommendations for Whitecap Resources (TSE:WCP)

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