Whitecap Resources (TSE:WCP) Given a C$22.00 Price Target at Desjardins

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

WCP has been the subject of several other research reports. Scotiabank raised Whitecap Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. Scotia boosted their price target on Whitecap Resources from C$17.00 to C$19.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 30th. ATB Cormark Capital Markets upped their target price 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. Raymond James Financial upped their target price on 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. Finally, TD lifted their price objective 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. Three analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$18.55.

Whitecap Resources Stock 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 PE ratio of 21.90, a P/E/G ratio of -0.33 and a beta of 0.18. The business has a 50-day simple moving average of C$15.89 and a 200-day simple moving average of C$14.39. Whitecap Resources has a one year low of C$9.79 and a one year high of C$17.34. 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 (TSE:WCP) last issued its quarterly 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 firm had revenue of C$1.84 billion for the quarter. On average, equities research analysts forecast that Whitecap Resources will post 1.1226131 EPS for the current fiscal year.

Whitecap Resources Dividend Announcement

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

Insider Activity

In related news, Director Grant Bradley Fagerheim acquired 10,000 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were bought at an average price of C$14.46 per share, with a total value of C$144,600.00. Following the transaction, the director directly owned 3,308,099 shares of the company’s stock, valued at C$47,835,111.54. This trade represents a 0.30% increase in their ownership of the stock. Also, insider Travis Bjarne Tweit bought 3,000 shares of Whitecap Resources stock in a transaction dated Monday, June 15th. The stock was purchased at an average price of C$15.48 per share, with a total value of C$46,440.00. Following the completion of the purchase, the insider owned 230,204 shares in the company, valued at C$3,563,557.92. This trade represents a 1.32% increase in their ownership of the stock. Over the last 90 days, insiders acquired 31,500 shares of company stock valued at $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.