TD Securities Increases Whitecap Resources (TSE:WCP) Price Target to C$15.00

Whitecap Resources (TSE:WCP) had its price objective raised by research analysts at TD Securities from C$13.00 to C$15.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 10.54% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Desjardins upped their target price on shares of Whitecap Resources from C$13.50 to C$14.00 and gave the company a “buy” rating in a research note on Monday, January 26th. National Bank Financial upped their price objective on shares of Whitecap Resources from C$15.00 to C$16.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Capital One Financial upgraded shares of Whitecap Resources to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Scotiabank lifted 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 research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Whitecap Resources presently has an average rating of “Buy” and a consensus target price of C$14.94.

Whitecap Resources Stock Performance

WCP traded down C$0.19 during midday 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. Whitecap Resources has a twelve month low of C$6.87 and a twelve month high of C$13.98. The stock has a market cap of C$16.47 billion, a P/E ratio of 12.01, a PEG ratio of -0.33 and a beta of 0.69. The company has a fifty day simple moving average of C$12.04 and a 200 day simple moving average of C$11.22. 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 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.