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

Key Points

• Desjardins upgraded Whitecap Resources to a “moderate buy,” adding to a generally positive analyst outlook on the stock.
• Other firms have also raised their views and price targets, with Whitecap now carrying an average analyst rating of “Buy” and a consensus target price of C$18.55.
• The stock opened at C$15.99, and recent insider buying included purchases by a company insider and a director, signaling some confidence from within the company.

Whitecap Resources (TSE:WCP - Get Free Report) was upgraded by analysts at Desjardins to a "moderate buy" rating in a note issued to investors on Thursday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. National Bank Financial lifted their price target on shares of Whitecap Resources from C$25.00 to C$26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. Scotia increased 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. ATB Cormark Capital Markets raised their target price on 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. TD boosted their target price on 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. Finally, Raymond James Financial upped their price target on Whitecap Resources from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a research note 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 stock. According to MarketBeat, Whitecap Resources presently has an average rating of "Buy" and a consensus target price of C$18.55.

Whitecap Resources Stock Performance

WCP stock opened at C$15.99 on Thursday. The stock has a 50-day moving average price of C$15.89 and a 200-day moving average price of 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 current ratio of 0.54, a quick ratio of 0.67 and a debt-to-equity ratio of 33.01. The firm has a market cap of C$19.44 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of -0.33 and a beta of 0.18.

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

Insider Activity

In other Whitecap Resources news, insider Travis Bjarne Tweit bought 3,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was bought at an average cost of C$15.48 per share, with a total value of C$46,440.00. Following the completion of the transaction, the insider directly owned 230,204 shares in the company, valued at approximately C$3,563,557.92. The trade was a 1.32% increase in their position. Also, Director Grant Bradley Fagerheim bought 10,000 shares of the firm's stock in a transaction dated Monday, July 6th. The shares were acquired at an average cost of C$14.46 per share, with a total value of C$144,600.00. Following the completion of the transaction, the director 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. Insiders acquired 31,500 shares of company stock worth $481,010 over the last three months. 0.84% of the stock is currently owned by 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.

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