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

Whitecap Resources (TSE:WCP) had its price objective upped by National Bankshares from C$15.00 to C$16.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ target price suggests a potential upside of 27.59% from the stock’s current price.

Several other research firms have also recently weighed in on WCP. Desjardins increased their price target on shares of Whitecap Resources from C$13.50 to C$14.00 and gave the company a “buy” rating in a research note on Monday, January 26th. TD Securities increased their price objective on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Raymond James Financial raised their target price on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 23rd. Capital One Financial upgraded Whitecap Resources to a “strong-buy” rating in a research report on Monday, October 27th. Finally, Tudor Pickering upgraded Whitecap Resources to a “strong-buy” rating in a report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$14.50.

Whitecap Resources Stock Up 0.7%

Shares of WCP opened at C$12.54 on Tuesday. Whitecap Resources has a 52-week low of C$6.87 and a 52-week high of C$12.93. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58. The stock has a fifty day simple moving average of C$11.66 and a two-hundred day simple moving average of C$10.96. The company has a market capitalization of C$15.22 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of -0.33 and a beta of 0.69.

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