ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Whitecap Resources (TSE:WCP) Stock

Whitecap Resources (TSE:WCP) had its price target upped by ATB Cormark Capital Markets from C$19.00 to C$23.00 in a research note issued to investors on Thursday, BayStreet reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets‘s price objective indicates a potential upside of 13.58% from the stock’s current price.

WCP has been the subject of several other research reports. TD boosted their price target on shares of Whitecap Resources from C$18.00 to C$21.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Royal Bank Of Canada upped their price objective on shares of Whitecap Resources from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Wednesday. National Bank Financial increased their price objective on shares of Whitecap Resources from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Desjardins lifted their target price on shares of Whitecap Resources from C$23.00 to C$24.00 and gave the company a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$19.77.

Whitecap Resources Price Performance

WCP traded up C$0.15 during trading on Thursday, hitting C$20.25. The company’s stock had a trading volume of 5,572,983 shares, compared to its average volume of 6,134,488. The company has a current ratio of 0.56, a quick ratio of 0.67 and a debt-to-equity ratio of 24.14. Whitecap Resources has a twelve month low of C$10.18 and a twelve month high of C$20.53. The business’s fifty day simple moving average is C$18.38 and its 200 day simple moving average is C$16.68. The firm has a market capitalization of C$24.62 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of -0.33 and a beta of 0.29.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$0.73 EPS for the quarter. The business had revenue of C$2.35 billion during the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%. On average, equities research analysts forecast that Whitecap Resources will post 1.12 EPS for the current fiscal year.

Whitecap Resources Company Profile

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.