Whitecap Resources (TSE:WCP) Upgraded at Desjardins

Desjardins upgraded shares of Whitecap Resources (TSE:WCP) to a moderate buy rating in a research note published on Thursday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada boosted their price target on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. Raymond James Financial increased their price objective on shares of Whitecap Resources from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Scotia lifted their target price on shares of 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. TD boosted their target price on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, ATB Cormark Capital Markets upped their price target on shares of Whitecap Resources from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. Based on data from MarketBeat.com, Whitecap Resources presently has an average rating of “Buy” and a consensus target price of C$18.55.

Whitecap Resources Stock Up 2.1%

Whitecap Resources stock opened at C$15.99 on Thursday. The company has a debt-to-equity ratio of 33.01, a current ratio of 0.54 and a quick ratio of 0.67. The stock has a market capitalization of C$19.44 billion, a price-to-earnings ratio of 21.90, a PEG ratio of -0.33 and a beta of 0.18. Whitecap Resources has a 1-year low of C$9.79 and a 1-year high of C$17.34. The business has a fifty day moving average price of C$15.89 and a 200-day moving average price of C$14.39.

Whitecap Resources (TSE:WCP) last announced its earnings results on Wednesday, April 29th. The company reported C$0.02 earnings per share (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 for the quarter. Equities research analysts forecast that Whitecap Resources will post 1.1226131 EPS for the current fiscal year.

Whitecap Resources Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be issued a $0.0608 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. Whitecap Resources’s dividend payout ratio is currently 99.95%.

Insider Activity

In other news, insider Travis Bjarne Tweit acquired 3,000 shares of Whitecap Resources stock in a transaction dated Monday, June 15th. The stock was purchased at an average cost of C$15.48 per share, for a total transaction of C$46,440.00. Following the completion of the purchase, the insider directly owned 230,204 shares in the company, valued at C$3,563,557.92. This trade represents a 1.32% increase in their position. Also, insider Joseph Adam Wong bought 7,500 shares of the firm’s stock in a transaction that occurred on 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 directly 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 ownership of the stock. Over the last three months, insiders have bought 31,500 shares of company stock valued at $481,010. 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.