Desjardins Upgrades Whitecap Resources (TSE:WCP) to Moderate Buy

Whitecap Resources (TSE:WCP) was upgraded by equities researchers at Desjardins to a “moderate buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also recently issued reports on WCP. Royal Bank Of Canada boosted 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 Tuesday, May 26th. Scotiabank upgraded shares of Whitecap Resources from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 19th. TD boosted their price target on Whitecap Resources from C$17.00 to C$18.00 and gave the company a “buy” rating in a report on Thursday, April 30th. National Bank Financial upped their price target on Whitecap Resources from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Finally, ATB Cormark Capital Markets upped 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. Three investment analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$18.55.

Whitecap Resources Stock Up 2.1%

Shares of Whitecap Resources stock opened at C$15.99 on Thursday. The company has a debt-to-equity ratio of 33.01, a quick ratio of 0.67 and a current ratio of 0.54. 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 price-to-earnings ratio of 21.90, a P/E/G ratio of -0.33 and a beta of 0.18. The company’s 50 day moving average price is C$15.89 and its 200-day moving average price is C$14.39.

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 net margin of 13.32% and a return on equity of 7.70%. 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 year.

Insider Activity 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 the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average cost of C$14.46 per share, with a total value 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 represents a 7.22% increase in their ownership of the stock. Insiders have purchased 31,500 shares of company stock worth $481,010 over the last 90 days. 0.84% of the stock is owned by company insiders.

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.