Whitecap Resources (TSE:WCP) Stock Price Expected to Rise, Scotiabank Analyst Says

Whitecap Resources (TSE:WCP) had its target price upped by stock analysts at Scotiabank from C$14.00 to C$15.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 28.98% from the stock’s current price.

WCP has been the subject of a number of other reports. Raymond James Financial lifted their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 23rd. National Bankshares set a C$15.00 price objective on shares of Whitecap Resources and gave the company an “outperform” rating in a research note on Friday, January 9th. TD Securities increased their price target on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Tudor Pickering upgraded Whitecap Resources to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, Capital One Financial raised Whitecap Resources to a “strong-buy” rating in a research report on Monday, October 27th. Four research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$14.25.

Whitecap Resources Stock Performance

Whitecap Resources stock remained flat at C$11.63 during trading on Tuesday. 2,946,668 shares of the company traded hands, compared to its average volume of 5,468,706. Whitecap Resources has a 12-month low of C$6.87 and a 12-month high of C$12.02. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. The company has a fifty day simple moving average of C$11.44 and a 200 day simple moving average of C$10.74. The stock has a market cap of C$14.12 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of -0.33 and a beta of 0.62.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.17 earnings per share (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, analysts forecast that Whitecap Resources will post 1.1226131 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Bradley John Wall bought 2,800 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was bought at an average price of C$10.70 per share, for a total transaction of C$29,960.00. Following the transaction, the director owned 3,800 shares in the company, valued at C$40,660. The trade was a 280.00% increase in their ownership of the stock. 0.84% of the stock is currently owned by corporate insiders.

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.