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

Whitecap Resources (TSE:WCP) had its target price lifted by equities researchers at Desjardins from C$13.50 to C$14.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price objective would suggest a potential upside of 10.58% from the stock’s current price.

Several other research firms also recently weighed in on WCP. Capital One Financial upgraded shares of Whitecap Resources to a “strong-buy” rating in a research report on Monday, October 27th. TD Securities increased their target price on Whitecap Resources from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. National Bankshares set a C$15.00 target price on Whitecap Resources and gave the company an “outperform” rating in a research report on Friday, January 9th. Scotiabank boosted their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Finally, Tudor Pickering raised Whitecap Resources to a “strong-buy” rating in a research note on Wednesday, October 15th. Four research 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. According to data from MarketBeat, Whitecap Resources currently has a consensus rating of “Buy” and an average target price of C$14.33.

Whitecap Resources Trading Up 3.8%

Shares of WCP stock opened at C$12.66 on Monday. Whitecap Resources has a 1-year low of C$6.87 and a 1-year high of C$12.69. The company has a market cap of C$15.37 billion, a price-to-earnings ratio of 11.20, a PEG ratio of -0.33 and a beta of 0.62. 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 has a 50 day simple moving average of C$11.55 and a 200-day simple moving average of C$10.85.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.17 EPS for the quarter. The company had revenue of C$1.55 billion during the quarter. Whitecap Resources had a net margin of 24.23% and a return on equity of 15.86%. On average, equities research analysts expect that Whitecap Resources will post 1.1226131 EPS for the current fiscal year.

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.