In a new note to investors yesterday, an analyst has provided a rating update for Whitecap Resources (WCP). Analyst Jeremy Mccrea from Raymond James reiterated a Buy rating, with a C$9.50 price target.
According to TipRanks.com, Mccrea is ranked 0 out of 5 stars with an average return of -20.7% and a 21.9% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
Currently, the analyst consensus on Whitecap Resources is a Strong Buy with an average price target of C$10.97, representing a 142.4% upside. In a report released today, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$8.75 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 net profit of C$3.69 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$4.53, close to its 52-week low of C$4.14.
