In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Whitecap Resources (WCP). Canaccord Genuity’s analyst Anthony Petrucci reiterates their Buy rating on the shares, with a C$8 price target.
According to TipRanks.com, Petrucci has 0 stars on 0-5 star ranking scale with an average return of -20.0% and a 19.8% success rate. Petrucci covers the Basic Materials sector, focusing on stocks such as Essential Energy Services Ltd, Athabasca Oil Corporation, and Trican Well Service Ltd.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Whitecap Resources with a C$8.94 average price target, implying an 87.8% upside from current levels. In a report issued on January 7, BMO Capital also reiterated a Buy rating on the stock with a C$7 price target.
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Based on Whitecap Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$69.53 million. In comparison, last year the company had a GAAP net loss of C$232 million.
Whitecap Resources, Inc. engages in the acquisition, development, optimization, and production of crude oil and natural gas. Its projects include Boundary Lake, Valhalla North, Elmworth, Wapiti, West and East Pembina, Ferrier, Elnora, Garrington, Kerrobert, Lucky Hills, Fosterton, and Gull Lake.
The company’s shares closed on Thursday at C$4.76, close to its 52-week low of C$3.80.
