Scotiabank Forecasts Strong Price Appreciation for Whitecap Resources (TSE:WCP) Stock

Whitecap Resources (TSE:WCP) had its price target increased by equities researchers at Scotiabank from C$14.00 to C$15.00 in a note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a “hold” rating on the stock. Scotiabank’s price objective points to a potential upside of 25.84% from the company’s previous close.

Several other equities analysts have also recently commented on the company. Desjardins boosted their target price on Whitecap Resources from C$13.00 to C$13.50 and gave the stock a “buy” rating in a research report on Friday, October 24th. Raymond James Financial raised their target price on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 23rd. Tudor Pickering upgraded shares of Whitecap Resources to a “strong-buy” rating in a research report on Wednesday, October 15th. TD Securities boosted their price target on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, National Bankshares set a C$15.00 price objective on shares of Whitecap Resources and gave the company an “outperform” rating in a research report on Friday, January 9th. Four analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$14.25.

Whitecap Resources Stock Performance

Shares of WCP stock opened at C$11.92 on Tuesday. Whitecap Resources has a 52 week low of C$6.87 and a 52 week high of C$12.02. The firm’s 50-day simple moving average is C$11.47 and its two-hundred day simple moving average is C$10.77. The firm has a market cap of C$14.47 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of -0.33 and a beta of 0.62. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.17 EPS for the quarter. Whitecap Resources had a net margin of 24.23% and a return on equity of 15.86%. The company had revenue of C$1.55 billion for the quarter. As a group, equities analysts forecast that Whitecap Resources will post 1.1226131 earnings per share for the current year.

Insider Activity

In related news, Director Bradley John Wall acquired 2,800 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were purchased at an average price of C$10.70 per share, for a total transaction of C$29,960.00. Following the completion of the acquisition, the director owned 3,800 shares in the company, valued at approximately C$40,660. This represents a 280.00% increase in their ownership of the stock. Company insiders own 0.84% of the company’s stock.

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.