Whitecap Resources (TSE:WCP) Price Target Increased to C$11.50 by Analysts at Canaccord Genuity

Whitecap Resources (TSE:WCP) had its target price upped by Canaccord Genuity to C$11.50 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The firm presently has a “na” rating on the stock. Canaccord Genuity’s target price points to a potential upside of 48.20% from the company’s current price.

Several other brokerages have also recently issued reports on WCP. National Bankshares boosted their price objective on shares of Whitecap Resources from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 6th. BMO Capital Markets boosted their target price on shares of Whitecap Resources from C$8.00 to C$9.00 and gave the stock a “na” rating in a research report on Monday, June 21st. ATB Capital reiterated an “outperform” rating on shares of Whitecap Resources in a research report on Wednesday, October 6th. Tudor Pickering reiterated a “buy” rating and issued a C$8.50 price objective on shares of Whitecap Resources in a research report on Thursday. Finally, Raymond James boosted their price objective on shares of Whitecap Resources from C$9.00 to C$10.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 24th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$8.98.

Shares of Whitecap Resources stock traded up C$0.31 during trading on Thursday, reaching C$7.76. The company’s stock had a trading volume of 3,762,550 shares, compared to its average volume of 3,232,556. The company has a 50-day moving average price of C$5.90 and a two-hundred day moving average price of C$5.85. The firm has a market cap of C$4.90 billion and a PE ratio of 9.92. Whitecap Resources has a fifty-two week low of C$2.24 and a fifty-two week high of C$7.86. The company has a current ratio of 0.54, a quick ratio of 0.53 and a debt-to-equity ratio of 62.78.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings data on Thursday, July 29th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.13 by C($0.10). The business had revenue of C$658.39 million for the quarter. On average, analysts predict that Whitecap Resources will post 0.9599999 earnings per share for the current fiscal year.

In related news, Director Grant Bradley Fagerheim acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 13th. The stock was bought at an average price of C$5.41 per share, with a total value of C$27,050.00. Following the purchase, the director now directly owns 2,483,636 shares in the company, valued at approximately C$13,436,470.76. Over the last 90 days, insiders acquired 27,000 shares of company stock worth $148,490.

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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