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

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

WCP has been the topic of several other research reports. TD upped their price target on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Scotiabank raised Whitecap Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 19th. ATB Cormark Capital Markets lifted their price target on Whitecap Resources from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Royal Bank Of Canada boosted their price objective on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. Finally, Scotia upped their price objective 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. Three investment analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$18.55.

Whitecap Resources Trading Up 2.1%

TSE:WCP opened at C$15.99 on Thursday. The company has a market cap of C$19.44 billion, a P/E ratio of 21.90, a P/E/G ratio of -0.33 and a beta of 0.18. The stock’s fifty day moving average price is C$15.89 and its two-hundred day moving average price is C$14.39. Whitecap Resources has a 1 year low of C$9.79 and a 1 year high of C$17.34. The company has a debt-to-equity ratio of 33.01, a current ratio of 0.54 and a quick ratio of 0.67.

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

Whitecap Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be given a $0.0608 dividend. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, July 31st. Whitecap Resources’s dividend payout ratio (DPR) is presently 99.95%.

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim purchased 10,000 shares of Whitecap Resources stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average price of C$14.46 per share, for a total transaction 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 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 that occurred on Monday, July 6th. The stock was purchased at an average cost of C$14.46 per share, for a total transaction of C$108,450.00. Following the completion of the purchase, the insider owned 111,416 shares of the company’s stock, valued at C$1,611,075.36. This trade represents a 7.22% increase in their ownership of the stock. Over the last 90 days, insiders have bought 31,500 shares of company stock worth $481,010. 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.