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

Whitecap Resources (TSE:WCP) has been given a C$22.00 price objective by investment analysts at Desjardins in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective would suggest a potential upside of 37.59% from the company’s current price.

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

Whitecap Resources Trading Up 2.1%

Shares of TSE WCP opened at C$15.99 on Friday. The stock’s 50 day moving average price is C$15.89 and its two-hundred day moving average price is C$14.39. 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$19.44 billion, a P/E ratio of 21.90, a PEG ratio of -0.33 and a beta of 0.18. The company has a quick ratio of 0.67, a current ratio of 0.54 and a debt-to-equity ratio of 33.01.

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

Insiders Place Their Bets

In related news, Director Grant Bradley Fagerheim bought 10,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were purchased at an average cost of C$14.46 per share, with a total value of C$144,600.00. Following the completion of the transaction, the director directly owned 3,308,099 shares of the company’s stock, valued at approximately C$47,835,111.54. This represents a 0.30% increase in their ownership of the stock. Also, insider Joseph Adam Wong purchased 7,500 shares of Whitecap Resources stock in a transaction dated Monday, July 6th. The shares were purchased at an average cost of C$14.46 per share, with a total value of C$108,450.00. Following the acquisition, 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 purchased 31,500 shares of company stock valued at $481,010 over the last three months. Company insiders own 0.84% of the company’s stock.

Whitecap Resources Company Profile

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.