Whitecap Resources (TSE:WCP) Price Target Raised to C$13.00

Whitecap Resources (TSE:WCPGet Rating) had its price objective boosted by stock analysts at Scotiabank from C$12.00 to C$13.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 4.25% from the stock’s current price.

A number of other research firms have also issued reports on WCP. Raymond James set a C$14.50 target price on Whitecap Resources and gave the company a “strong-buy” rating in a report on Friday, April 29th. Cormark lifted their price target on Whitecap Resources from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Monday, March 21st. Haywood Securities lifted their price target on Whitecap Resources from C$12.00 to C$14.00 and gave the company a “buy” rating in a research note on Wednesday, April 6th. National Bankshares decreased their price target on Whitecap Resources from C$17.50 to C$16.00 in a research note on Thursday, April 14th. Finally, TD Securities lifted their price target on Whitecap Resources from C$15.00 to C$15.50 and gave the company a “buy” rating in a research note on Friday, April 29th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$13.54.

Shares of WCP traded up C$0.19 during midday trading on Wednesday, reaching C$12.47. The company had a trading volume of 3,748,070 shares, compared to its average volume of 4,230,951. Whitecap Resources has a 1-year low of C$4.69 and a 1-year high of C$12.71. The stock has a market cap of C$7.72 billion and a PE ratio of 3.25. The firm has a 50 day simple moving average of C$10.61 and a 200-day simple moving average of C$9.28. The company has a quick ratio of 0.70, a current ratio of 0.74 and a debt-to-equity ratio of 24.68.

Whitecap Resources (TSE:WCPGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported C$0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.45 by C($0.21). The firm had revenue of C$1.06 billion during the quarter. As a group, sell-side analysts anticipate that Whitecap Resources will post 1.5 earnings per share for the current fiscal year.

In other Whitecap Resources news, Senior Officer Darin Roy Dunlop sold 22,800 shares of the company’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of C$10.50, for a total transaction of C$239,400.00. Following the completion of the sale, the insider now directly owns 432,478 shares in the company, valued at C$4,541,019. Also, Director Mary-Jo Case purchased 8,000 shares of the company’s stock in a transaction on Monday, May 9th. The shares were purchased at an average price of C$9.95 per share, with a total value of C$79,600.00. Following the completion of the purchase, the director now directly owns 53,639 shares of the company’s stock, valued at C$533,708.05. Insiders have acquired 18,600 shares of company stock valued at $193,358 over the last 90 days.

About Whitecap Resources (Get Rating)

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, British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southwest Saskatchewan. As of February 14, 2022, it had a total proved plus probable reserves of 701,829 thousand barrels of oil equivalent.

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