Desjardins Analysts Give Whitecap Resources (TSE:WCP) a C$22.00 Price Target

Desjardins set a C$22.00 target price on Whitecap Resources (TSE:WCP) in a research report released on Friday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. TD raised their price objective on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Raymond James Financial boosted their target price on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. ATB Cormark Capital Markets increased their target price on Whitecap Resources from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Scotiabank raised Whitecap Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. Finally, Scotia raised their price target on Whitecap Resources from C$17.00 to C$19.00 and gave the company a “sector outperform” rating in a report 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 has an average rating of “Buy” and a consensus price target of C$18.55.

Whitecap Resources Price Performance

Shares of Whitecap Resources stock opened at C$15.99 on Friday. The company has a market cap 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 debt-to-equity ratio of 33.01, a quick ratio of 0.67 and a current ratio of 0.54. Whitecap Resources has a one year low of C$9.79 and a one year high of C$17.34. The firm has a fifty day moving average of C$15.89 and a two-hundred day moving average of C$14.41.

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

Whitecap Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.0608 per share. 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 99.95%.

Insider Activity

In related news, insider Joseph Adam Wong acquired 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average price of C$14.46 per share, with a total value of C$108,450.00. Following the completion of the acquisition, the insider owned 111,416 shares in the company, valued at approximately C$1,611,075.36. This represents a 7.22% increase in their ownership of the stock. Also, insider Travis Bjarne Tweit bought 3,000 shares of the stock in a transaction on Monday, June 15th. The shares were bought at an average price of C$15.48 per share, for a total transaction of C$46,440.00. Following the completion of the transaction, the insider directly owned 230,204 shares of the company’s stock, valued at C$3,563,557.92. This trade represents a 1.32% increase in their position. Insiders purchased 31,500 shares of company stock worth $481,010 in the last 90 days. 0.84% of the stock is currently owned by corporate 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.