In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Whitecap Resources (WCP). Analyst Juan Jarrah from TD Securities rated Whitecap Resources (WCP) a Buy yesterday, setting a C$8 price target.
According to TipRanks.com, Jarrah ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -26.4% and a 12.3% success rate. Jarrah covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Crescent Point Energy, and Bellatrix Exploration.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Whitecap Resources with a C$9.64 average price target, implying a 104.2% upside from current levels. In a report released yesterday, 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 Monday at C$4.72, close to its 52-week low of C$3.80.
