Royal Bank of Canada Increases Whitecap Resources (TSE:WCP) Price Target to C$14.00

Whitecap Resources (TSE:WCP) had its target price boosted by equities researchers at Royal Bank of Canada from C$13.00 to C$14.00 in a report released on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 29.99% from the stock’s previous close.

Other analysts have also recently issued reports about the company. National Bankshares reduced their price objective on Whitecap Resources from C$18.50 to C$15.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. Stifel Nicolaus boosted their price objective on Whitecap Resources from C$12.75 to C$13.75 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James decreased their price target on shares of Whitecap Resources from C$15.50 to C$13.00 and set a “strong-buy” rating for the company in a research note on Friday, January 19th. Desjardins increased their price objective on shares of Whitecap Resources from C$11.00 to C$11.50 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Canaccord Genuity Group increased their target price on Whitecap Resources from C$14.00 to C$14.50 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$13.56.

Whitecap Resources Trading Down 0.9 %

Shares of WCP opened at C$10.77 on Thursday. Whitecap Resources has a 12-month low of C$8.15 and a 12-month high of C$11.91. The firm has a market capitalization of C$6.44 billion, a P/E ratio of 7.38, a P/E/G ratio of -0.33 and a beta of 2.81. The firm has a 50-day moving average price of C$10.00 and a 200 day moving average price of C$9.64. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 25.25.

Whitecap Resources (TSE:WCP) last released its quarterly earnings results on Wednesday, April 24th. The company reported C$0.10 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.14). The business had revenue of C$933.30 million for the quarter, compared to analysts’ expectations of C$787.00 million. Whitecap Resources had a return on equity of 16.89% and a net margin of 27.52%. Sell-side analysts forecast that Whitecap Resources will post 1.2846626 EPS for the current year.

Insider Buying and Selling at Whitecap Resources

In related news, Director Grant Bradley Fagerheim bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was purchased at an average price of C$10.58 per share, for a total transaction of C$52,900.00. 0.74% of the stock is currently owned by company insiders.

About Whitecap Resources

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.