Whitecap Resources (TSE:WCP) Upgraded to “Hold” at Raymond James

Whitecap Resources (TSE:WCP) was upgraded by equities research analysts at Raymond James to a “hold” rating in a report released on Thursday, Zacks.com reports.

Several other brokerages also recently issued reports on WCP. National Bankshares reduced their price target on shares of Whitecap Resources from C$15.50 to C$14.50 in a report on Friday, September 27th. Jefferies Financial Group reduced their target price on Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Scotiabank raised their price target on Whitecap Resources from C$12.00 to C$13.00 in a research report on Friday, July 12th. Finally, Royal Bank of Canada raised Whitecap Resources to a “moderate buy” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$13.57.

Whitecap Resources Stock Performance

TSE WCP opened at C$10.31 on Thursday. The business has a 50 day moving average price of C$10.34 and a 200 day moving average price of C$10.29. The company has a market capitalization of C$6.18 billion, a P/E ratio of 8.25, a PEG ratio of -0.33 and a beta of 2.67. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.35. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings results on Wednesday, July 24th. The company reported C$0.41 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.29 by C$0.12. Whitecap Resources had a return on equity of 13.89% and a net margin of 22.43%. The business had revenue of C$1.05 billion during the quarter, compared to analysts’ expectations of C$946.00 million. Sell-side analysts expect that Whitecap Resources will post 1.1226131 EPS for the current fiscal year.

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$10.22, for a total value of C$204,400.00. Insiders own 0.84% of the company’s stock.

Whitecap Resources Company Profile

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.