Whitecap Resources Inc T.WCP

Alternate Symbol(s): SPGYF

Energy Oil & Gas E&P

Whitecap Resources Inc. is an oil-weighted growth company. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its core areas include the West Division and East Division. Its West Division is comprised of three regions: Smoky, Kaybob and Peace River Arch (PRA). The properties in its Smoky region include Kakwa and Resthaven, all located in Northwest Alberta. The primary reservoir being developed is the Montney resource play, mainly comprised of condensate-rich natural gas. Kaybob is located in the Fox Creek region of Northwest Alberta. The primary reservoir being developed is the Duvernay resource play, mainly comprised of condensate-rich natural gas. The PRA is its original asset area. Its East Division is comprised of four regions: Central AB, West Sask, East Sask and Weyburn. Its Central Alberta region represents the bulk of its Cardium and liquids-rich Mannville assets.

TSX:WCP - Post by User

Whitecap Resources Inc > $10.75 new target price

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Comment by baranjaon Oct 06, 2021 12:59pm

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Post# 33974015

RE:$10.75 new target price

Too bad we had this oil take down,.. WCP would have been flying today.

felix10 wrote:
Whitecap Resources Price Target Raised to $10.75 at ATB Capital

2021-10-06 09:46:48 AM ET (MT Newswires)

09:46 AM EDT, 10/06/2021 (MT Newswires) -- ATB Capital Markets raised its price target on Whitecap Resources Inc. (WCP.TO) to $10.75 from $10.50.

Analyst Patrick O'Rourke maintained an Outperform rating on shares of the Calgary-based oil and gas company after it announced a royalty agreement with Topaz Energy Corp. (TPZ.TO) after market close on Tuesday.

"Overall, we view the event as positive with the transaction accretive to both our near term view... as well as our long term view... - further, the cash proceeds accelerate WCP reaching its nominal debt target, and now in our view, improves its positioning for actionable return of capital to shareholder activities," O'Rourke said in a note to clients.

"The gross overriding royalty sale aligns with the company's priorities of balance sheet strength and increased return to shareholders," the analyst said.