Raymond James Financial Downgrades Whitecap Resources (TSE:WCP) to Outperform

Whitecap Resources (TSE:WCP) was downgraded by equities research analysts at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They currently have a C$16.00 target price on the stock, up from their previous target price of C$15.00. Raymond James Financial’s target price indicates a potential upside of 17.91% from the stock’s current price.

A number of other research analysts have also recently weighed in on WCP. National Bank Financial boosted 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. TD Securities raised their price objective on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Tuesday. Desjardins upped their target price on 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. Capital One Financial upgraded Whitecap Resources to a “strong-buy” rating in a report on Monday, October 27th. Finally, Scotiabank boosted their price objective on Whitecap Resources from C$14.00 to C$15.00 and gave the company a “hold” rating in a report on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Whitecap Resources has an average rating of “Buy” and an average target price of C$14.94.

Whitecap Resources Trading Down 1.4%

Shares of TSE WCP traded down C$0.19 during trading hours on Tuesday, hitting C$13.57. 4,716,080 shares of the company traded hands, compared to its average volume of 6,063,189. The stock has a market capitalization of C$16.47 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth 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. The company’s 50 day moving average price is C$12.04 and its 200 day moving average price is C$11.22. Whitecap Resources has a 12 month low of C$6.87 and a 12 month high of C$13.98.

About Whitecap Resources

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.