Desjardins Downgrades Whitecap Resources (TSE:WCP) to Hold

Whitecap Resources (TSE:WCP - Get Free Report) was downgraded by investment analysts at Desjardins from a "moderate buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts have also recently commented on the stock. Scotiabank raised shares of Whitecap Resources from a "sector perform" rating to an "outperform" rating and set a C$12.00 target price on the stock in a research report on Thursday, May 22nd. National Bank Financial raised shares of Whitecap Resources to a "strong-buy" rating in a research report on Monday, May 12th. National Bankshares boosted their target price on shares of Whitecap Resources from C$14.50 to C$15.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. CIBC dropped their price target on shares of Whitecap Resources from C$14.50 to C$13.00 in a research note on Thursday, April 10th. Finally, Raymond James lifted their price target on shares of Whitecap Resources from C$11.50 to C$12.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Whitecap Resources currently has a consensus rating of "Buy" and an average price target of C$12.88.

Whitecap Resources Stock Performance

Shares of WCP stock traded up C$0.01 during trading hours on Tuesday, hitting C$8.69. The stock had a trading volume of 4,731,069 shares, compared to its average volume of 6,093,887. The firm has a market capitalization of C$5.07 billion, a PE ratio of 5.86, a PEG ratio of -0.33 and a beta of 2.67. Whitecap Resources has a twelve month low of C$6.87 and a twelve month high of C$11.31. The stock's 50 day moving average is C$8.23 and its 200 day moving average is C$9.23. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67.

Insider Buying and Selling at Whitecap Resources

In other news, Director Grant Bradley Fagerheim purchased 10,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was acquired at an average price of C$8.72 per share, for a total transaction of C$87,200.00. Also, Director Bradley John Wall acquired 11,500 shares of Whitecap Resources stock in a transaction that occurred on Thursday, May 29th. The stock was bought at an average cost of C$8.77 per share, with a total value of C$100,855.00. Insiders acquired a total of 153,120 shares of company stock worth $1,293,066 over the last 90 days. Insiders own 0.84% of the company's stock.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap's Canadian assets.