Canaccord Genuity Group Forecasts Strong Price Appreciation for Whitecap Resources (TSE:WCP) Stock

Whitecap Resources (TSE:WCP) had its price objective lifted by equities research analysts at Canaccord Genuity Group from C$23.00 to C$23.50 in a research report issued to clients and investors on Thursday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price would suggest a potential upside of 19.90% from the stock’s previous close.

Several other equities research analysts also recently commented on WCP. TD lifted their price objective on Whitecap Resources from C$18.00 to C$21.00 and gave the stock a “buy” rating in a report on Friday, September 11th. National Bank Financial upped their target price on shares of Whitecap Resources from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Tuesday, October 20th. Royal Bank Of Canada raised their price target on shares of Whitecap Resources from C$20.00 to C$22.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. ATB Cormark Capital Markets lifted their price target on shares of Whitecap Resources from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Finally, Desjardins boosted their price objective on shares of Whitecap Resources from C$23.00 to C$24.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$20.50.

Whitecap Resources Stock Down 4.1%

TSE WCP traded down C$0.83 during mid-day trading on Thursday, reaching C$19.60. The stock had a trading volume of 7,858,670 shares, compared to its average volume of 6,121,014. Whitecap Resources has a 1 year low of C$10.18 and a 1 year high of C$20.79. The stock has a market cap of C$23.83 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of -0.33 and a beta of 0.29. The company has a fifty day moving average price of C$18.67 and a 200 day moving average price of C$15.83. The company has a debt-to-equity ratio of 24.14, a current ratio of 0.56 and a quick ratio of 0.67.

Whitecap Resources (TSE:WCP) last released its quarterly earnings data on Wednesday, October 28th. The company reported C$0.27 earnings per share (EPS) for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%. The business had revenue of C$2.14 billion for the quarter. On average, research analysts expect that Whitecap Resources will post 1.12 earnings per share for the current year.

Whitecap Resources Company Profile

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.