Whitecap Resources (TSE:WCP) Given New C$14.00 Price Target at Canaccord Genuity Group

Whitecap Resources (TSE:WCP) had its target price raised by equities research analysts at Canaccord Genuity Group from C$12.50 to C$14.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 34.74% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus lifted their target price on Whitecap Resources from C$12.25 to C$12.75 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Desjardins upped their price target on Whitecap Resources from C$11.00 to C$11.50 and gave the stock a “buy” rating in a report on Friday, February 23rd. ATB Capital reduced their price objective on Whitecap Resources from C$15.50 to C$15.00 in a research note on Thursday, February 22nd. Raymond James cut their price target on Whitecap Resources from C$15.50 to C$13.00 and set a “strong-buy” rating for the company in a report on Friday, January 19th. Finally, Jefferies Financial Group set a C$11.00 price objective on Whitecap Resources and gave the company a “buy” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$13.27.

Whitecap Resources Stock Performance

Whitecap Resources stock traded down C$0.10 during mid-day trading on Wednesday, hitting C$10.39. 1,472,959 shares of the company’s stock traded hands, compared to its average volume of 2,445,454. The firm has a 50 day simple moving average of C$9.72 and a two-hundred day simple moving average of C$9.64. Whitecap Resources has a fifty-two week low of C$8.15 and a fifty-two week high of C$11.91. The stock has a market cap of C$6.21 billion, a price-to-earnings ratio of 7.12, a P/E/G ratio of -0.33 and a beta of 2.81. The company has a debt-to-equity ratio of 25.25, a current ratio of 0.90 and a quick ratio of 0.67.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings results on Wednesday, February 21st. The company reported C$0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.30 by C$0.19. Whitecap Resources had a return on equity of 16.89% and a net margin of 27.52%. The business had revenue of C$914.10 million during the quarter. On average, research analysts expect that Whitecap Resources will post 1.2846626 EPS for the current fiscal year.

Insider Activity

In other news, Director Grant Bradley Fagerheim acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were bought at an average price of C$10.58 per share, with a total value of C$52,900.00. Insiders own 0.74% of the company’s stock.

Whitecap Resources Company Profile

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.