Whitecap Resources (TSE:WCP) Given New C$15.50 Price Target at Canaccord Genuity Group

Whitecap Resources (TSE:WCP) had its price objective upped by Canaccord Genuity Group from C$14.00 to C$15.50 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 14.22% from the stock’s current price.

Several other equities analysts have also weighed in on WCP. Raymond James Financial lowered shares of Whitecap Resources from a “strong-buy” rating to an “outperform” rating and upped their price objective for the company from C$15.00 to C$16.00 in a report on Tuesday. Desjardins boosted their target price on Whitecap Resources from C$13.50 to C$14.00 and gave the company a “buy” rating in a research report on Monday, January 26th. National Bank Financial upped their price target on Whitecap Resources from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. BMO Capital Markets raised their price objective on Whitecap Resources from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Scotiabank upped their target price on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$14.94.

Whitecap Resources Trading Down 1.4%

Shares of WCP stock traded down C$0.19 during trading hours on Tuesday, hitting C$13.57. 4,716,080 shares of the company were exchanged, compared to its average volume of 6,063,189. The company has a 50 day simple moving average of C$12.04 and a two-hundred day simple moving average of C$11.22. The firm has a market cap of C$16.47 billion, a P/E ratio of 12.01, a P/E/G ratio of -0.33 and a beta of 0.69. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. Whitecap Resources has a fifty-two week low of C$6.87 and a fifty-two week high of C$13.98.

Whitecap Resources Company Profile

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.