Whitecap Resources (TSE:WCP) Given New C$14.00 Price Target at Desjardins

Whitecap Resources (TSE:WCP) had its target price raised by Desjardins from C$13.50 to C$14.00 in a report published on Monday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Capital One Financial upgraded Whitecap Resources to a “strong-buy” rating in a report on Monday, October 27th. TD Securities upped their target price on Whitecap Resources from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Scotiabank raised their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the company a “hold” rating in a research report on Tuesday, January 20th. Raymond James Financial boosted their price objective on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, National Bankshares set a C$15.00 price objective on shares of Whitecap Resources and gave the company an “outperform” rating in a research note on Friday, January 9th. Four investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Whitecap Resources presently has an average rating of “Buy” and a consensus target price of C$14.33.

Whitecap Resources Stock Performance

Shares of WCP opened at C$12.20 on Monday. The stock has a market capitalization of C$14.81 billion, a P/E ratio of 10.80, a P/E/G ratio of -0.33 and a beta of 0.62. 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 1 year low of C$6.87 and a 1 year high of C$12.22. The company’s fifty day moving average is C$11.53 and its two-hundred day moving average is C$10.83.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.17 EPS for the quarter. Whitecap Resources had a return on equity of 15.86% and a net margin of 24.23%.The business had revenue of C$1.55 billion during the quarter. On average, sell-side analysts predict that Whitecap Resources will post 1.1226131 earnings per share for the current year.

Whitecap Resources Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 17th were paid a $0.0608 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) annualized dividend and a yield of 6.0%. Whitecap Resources’s payout ratio is presently 64.57%.

Insider Transactions at Whitecap Resources

In other news, Director Bradley John Wall purchased 2,800 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were bought at an average cost of C$10.70 per share, with a total value of C$29,960.00. Following the purchase, the director directly owned 3,800 shares of the company’s stock, valued at approximately C$40,660. This trade represents a 280.00% increase in their ownership of the stock. Company insiders own 0.84% of the company’s stock.

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. To extract petroleum products from its resources, the company uses horizontal drilling, in addition to multistage fracturing technology. Crude oil is the leading revenue generator out of the basket of energy products sold by Whitecap.