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

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

WCP has been the subject of a number of other reports. ATB Capital upped their price target on Whitecap Resources from C$7.50 to C$8.00 and gave the company an “outperform” rating in a research report on Wednesday, April 7th. CIBC restated an “outperform” rating and issued a C$7.50 price target on shares of Whitecap Resources in a research report on Monday, May 17th. Tudor Pickering & Holt set a C$7.00 price target on Whitecap Resources and gave the company a “buy” rating in a research report on Monday, May 17th. Canaccord Genuity upped their price target on Whitecap Resources from C$7.50 to C$8.00 and gave the company an “outperform” rating in a research report on Tuesday, April 6th. Finally, Tudor Pickering restated a “buy” rating and issued a C$7.00 price target on shares of Whitecap Resources in a research report 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 company presently has an average rating of “Buy” and an average target price of C$7.13.

TSE:WCP opened at C$6.32 on Wednesday. Whitecap Resources has a 12 month low of C$2.10 and a 12 month high of C$6.82. The business’s 50 day moving average price is C$5.69. 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 stock has a market cap of C$4.00 billion and a price-to-earnings ratio of 9.62.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings data on Thursday, April 29th. The company reported C$0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.07 by C($0.03). The business had revenue of C$471.65 million during the quarter. Analysts anticipate that Whitecap Resources will post 0.49 earnings per share for the current year.

In other news, Director Gregory Scott Fletcher purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, May 4th. The shares were bought at an average cost of C$5.39 per share, for a total transaction of C$26,950.00. Following the completion of the purchase, the director now directly owns 126,083 shares of the company’s stock, valued at C$679,587.37.

About Whitecap Resources

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.

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Analyst Recommendations for Whitecap Resources (TSE:WCP)

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