Desjardins Forecasts Strong Price Appreciation for Whitecap Resources (TSE:WCP) Stock

Whitecap Resources (TSE:WCP) had its price objective boosted by stock analysts at Desjardins from C$13.50 to C$14.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective suggests a potential upside of 15.13% from the company’s previous close.

WCP has been the subject of a number of other reports. Scotiabank upped their price target on 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. Tudor Pickering upgraded Whitecap Resources to a “strong-buy” rating in a report on Wednesday, October 15th. Raymond James Financial increased their price objective on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 23rd. National Bankshares set a C$15.00 target price on Whitecap Resources and gave the company an “outperform” rating in a research report on Friday, January 9th. Finally, Capital One Financial upgraded Whitecap Resources to a “strong-buy” rating in a report on Monday, October 27th. Four research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$14.33.

Whitecap Resources Price Performance

Shares of WCP traded up C$0.16 during trading hours on Monday, hitting C$12.16. 5,154,654 shares of the stock were exchanged, compared to its average volume of 5,842,883. The stock’s 50-day moving average price is C$11.51 and its two-hundred day moving average price is C$10.81. Whitecap Resources has a 12-month low of C$6.87 and a 12-month high of C$12.20. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. The company has a market cap of C$14.76 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of -0.33 and a beta of 0.62.

Whitecap Resources (TSE:WCP) last released its earnings results on Wednesday, October 22nd. The company reported C$0.17 earnings per share (EPS) for the quarter. The business had revenue of C$1.55 billion during the quarter. Whitecap Resources had a net margin of 24.23% and a return on equity of 15.86%. Research analysts expect that Whitecap Resources will post 1.1226131 earnings per share for the current year.

Insider Transactions at Whitecap Resources

In other news, Director Bradley John Wall purchased 2,800 shares of the stock in a transaction on 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 acquisition, the director directly owned 3,800 shares of the company’s stock, valued at approximately C$40,660. The trade was a 280.00% increase in their position. 0.84% of the stock is owned by corporate insiders.

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.