ATB Cormark Capital Markets Issues Positive Forecast for Whitecap Resources (TSE:WCP) Stock Price

Whitecap Resources (TSE:WCP) had its price target raised by investment analysts at ATB Cormark Capital Markets from C$13.00 to C$15.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective suggests a potential upside of 10.54% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Scotiabank lifted their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. Raymond James Financial cut Whitecap Resources from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from C$15.00 to C$16.00 in a research report on Tuesday. Canaccord Genuity Group increased their target price on Whitecap Resources from C$14.00 to C$15.50 and gave the company a “buy” rating in a research report on Tuesday. National Bank Financial boosted their price target on shares of Whitecap Resources from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Finally, Desjardins increased their price objective on shares of Whitecap Resources from C$13.50 to C$14.00 and gave the company a “buy” rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$14.94.

Whitecap Resources Stock Performance

WCP stock traded down C$0.19 during midday trading on Tuesday, hitting 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 1-year low of C$6.87 and a 1-year high of C$13.98. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The stock’s fifty day simple moving average is C$12.04 and its 200-day simple moving average is C$11.22. The firm has a market cap of C$16.47 billion, a P/E ratio of 12.01, a PEG ratio of -0.33 and a beta of 0.69.

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.