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

Key Points

• Desjardins initiated coverage of Whitecap Resources with a C$22.00 price target and a buy rating, implying about 37.8% upside from the previous close.
• Other analysts remain bullish: several firms recently raised targets or upgraded ratings, and the stock currently carries a Buy consensus with an average target price of C$18.55.
• Whitecap Resources was trading up 1.9% at C$15.96, while insiders also showed confidence by buying shares in early July.

Whitecap Resources (TSE:WCP - Get Free Report) has been assigned a C$22.00 target price by stock analysts at Desjardins in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' target price suggests a potential upside of 37.84% from the company's previous close.

A number of other research analysts also recently weighed in on WCP. National Bank Financial raised their target price on shares of 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. Royal Bank Of Canada upped their target price 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. TD raised their target price on shares of Whitecap Resources from C$17.00 to C$18.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. ATB Cormark Capital Markets increased their price target 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. Finally, Scotiabank upgraded shares of Whitecap Resources from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 19th. Three analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$18.55.

Whitecap Resources Trading Up 1.9%

TSE:WCP traded up C$0.30 during mid-day trading on Friday, hitting C$15.96. The company had a trading volume of 4,211,986 shares, compared to its average volume of 6,361,485. The firm has a market cap of C$19.40 billion, a P/E ratio of 21.86, a P/E/G ratio of -0.33 and a beta of 0.18. Whitecap Resources has a fifty-two week low of C$9.79 and a fifty-two week high of C$17.34. The business's fifty day moving average is C$15.88 and its two-hundred day moving average is C$14.37. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported C$0.02 earnings per share for the quarter. The company had revenue of C$1.84 billion during the quarter. Whitecap Resources had a net margin of 13.32% and a return on equity of 7.70%. As a group, research analysts expect that Whitecap Resources will post 1.1226131 earnings per share for the current year.

Insider Activity

In other news, Director Grant Bradley Fagerheim acquired 10,000 shares of Whitecap Resources stock in a transaction on Monday, July 6th. The shares were purchased at an average cost of C$14.46 per share, for a total transaction of C$144,600.00. Following the completion of the purchase, the director directly owned 3,308,099 shares of the company's stock, valued at approximately C$47,835,111.54. This represents a 0.30% increase in their position. Also, insider Joseph Adam Wong acquired 7,500 shares of the firm's 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 directly owned 111,416 shares of the company's stock, valued at C$1,611,075.36. The trade was a 7.22% increase in their ownership of the stock. Over the last ninety days, insiders acquired 31,500 shares of company stock worth $481,010. Corporate 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.

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