Whitecap Resources (TSE:WCP) PT Set at C$22.00 by Desjardins

Whitecap Resources (TSE:WCP) has been assigned a C$22.00 price objective by Desjardins in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 37.84% from the company’s previous close.

Several other research analysts have also issued reports on WCP. Raymond James Financial increased their target price on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Scotia upped their price target on Whitecap Resources from C$17.00 to C$19.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 30th. Scotiabank raised shares of Whitecap Resources from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 19th. ATB Cormark Capital Markets upped their price objective on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Finally, National Bank Financial raised their price objective on shares of Whitecap Resources from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$18.55.

Whitecap Resources Trading Up 1.9%

Shares of WCP traded up C$0.30 during mid-day trading on Friday, reaching C$15.96. 4,211,986 shares of the company were exchanged, compared to its average volume of 6,361,485. The business has a 50 day simple moving average of C$15.88 and a two-hundred day simple moving average of C$14.37. Whitecap Resources has a 52 week low of C$9.79 and a 52 week high of C$17.34. The stock has a market capitalization of C$19.40 billion, a PE ratio of 21.86, a PEG ratio of -0.33 and a beta of 0.18. The company has a debt-to-equity ratio of 33.01, a quick ratio of 0.67 and a current ratio of 0.54.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings data on Wednesday, April 29th. The company reported C$0.02 earnings per share for the quarter. Whitecap Resources had a net margin of 13.32% and a return on equity of 7.70%. The company had revenue of C$1.84 billion during the quarter. On average, analysts predict that Whitecap Resources will post 1.1226131 earnings per share for the current fiscal year.

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average cost of C$14.46 per share, with a total value of C$144,600.00. Following the acquisition, the director owned 3,308,099 shares of the company’s stock, valued at C$47,835,111.54. This represents a 0.30% increase in their ownership of the stock. Also, insider Joseph Adam Wong acquired 7,500 shares of the stock in a transaction on Monday, July 6th. The stock was bought at an average cost of C$14.46 per share, for a total transaction of C$108,450.00. Following the transaction, the insider owned 111,416 shares of the company’s stock, valued at approximately C$1,611,075.36. This trade represents a 7.22% increase in their position. Insiders have acquired 31,500 shares of company stock worth $481,010 in the last ninety days. Company insiders own 0.84% of the company’s stock.

About Whitecap Resources

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.