Whitecap Resources (TSE:WCP) Upgraded by Desjardins to “Buy” Rating

Desjardins upgraded shares of Whitecap Resources (TSE:WCP) from a hold rating to a buy rating in a research note published on Tuesday morning,BayStreet.CA reports. They currently have C$12.50 price objective on the stock, up from their previous price objective of C$12.00.

A number of other equities analysts have also commented on the company. National Bankshares raised their price target on Whitecap Resources from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Raymond James Financial lifted their target price on Whitecap Resources from C$13.00 to C$14.00 and gave the company a “strong-buy” rating in a report on Thursday, July 24th. Scotiabank raised shares of Whitecap Resources from a “sector perform” rating to an “outperform” rating and set a C$12.00 price target on the stock in a report on Thursday, May 22nd. Finally, National Bank Financial upgraded Whitecap Resources to a “strong-buy” rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$13.25.

Whitecap Resources Stock Performance

TSE WCP opened at C$10.26 on Tuesday. The company has a market capitalization of C$5.99 billion, a PE ratio of 6.92, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. Whitecap Resources has a 52-week low of C$6.87 and a 52-week high of C$11.31. The company has a 50-day simple moving average of C$9.85 and a 200 day simple moving average of C$9.13.

Whitecap Resources Announces Dividend

The firm also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Sunday, August 31st will be issued a $0.0608 dividend. Whitecap Resources’s dividend payout ratio (DPR) is currently 49.25%.

Insider Buying and Selling

In related news, Director Bradley John Wall acquired 11,500 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was acquired at an average cost of C$8.77 per share, for a total transaction of C$100,855.00. Also, Director Grant Bradley Fagerheim purchased 15,000 shares of Whitecap Resources stock in a transaction that occurred on Thursday, July 10th. The shares were bought at an average price of C$9.43 per share, for a total transaction of C$141,450.00. In the last 90 days, insiders have purchased 41,500 shares of company stock valued at $383,055. 0.84% of the stock is owned by corporate insiders.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap’s Canadian assets.