ATB Cormark Capital Markets Raises Whitecap Resources (TSE:WCP) Price Target to C$15.00

Whitecap Resources (TSE:WCP) had its target price boosted by analysts at ATB Cormark Capital Markets from C$13.00 to C$15.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price would indicate a potential upside of 10.54% from the stock’s current price.

Several other research firms have also recently commented on WCP. Desjardins increased their price target on Whitecap Resources from C$13.50 to C$14.00 and gave the company a “buy” rating in a report on Monday, January 26th. BMO Capital Markets upped their target price on Whitecap Resources from C$13.00 to C$15.00 and gave the company an “outperform” rating in a report on Tuesday. Canaccord Genuity Group raised their target price on Whitecap Resources from C$14.00 to C$15.50 and gave the stock a “buy” rating in a research note on Tuesday. Scotiabank boosted their price target on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Whitecap Resources has an average rating of “Buy” and a consensus price target of C$14.94.

Whitecap Resources Price Performance

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

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.