Desjardins Boosts Whitecap Resources (TSE:WCP) Price Target to C$13.00

Whitecap Resources (TSE:WCP) had its price objective increased by Desjardins from C$12.75 to C$13.00 in a research report report published on Thursday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

WCP has been the subject of several other reports. Canaccord Genuity Group dropped their target price on shares of Whitecap Resources from C$14.50 to C$14.00 in a research report on Tuesday, October 22nd. Jefferies Financial Group dropped their price objective on shares of Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating for the company in a report on Monday, September 16th. National Bankshares reduced their target price on Whitecap Resources from C$15.50 to C$14.50 in a research note on Friday, September 27th. Scotiabank lifted their price target on Whitecap Resources from C$12.00 to C$13.00 in a research note on Friday, July 12th. Finally, Royal Bank of Canada upgraded Whitecap Resources to a “moderate buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$13.61.

Whitecap Resources Stock Performance

Shares of WCP opened at C$10.67 on Thursday. Whitecap Resources has a 12-month low of C$8.15 and a 12-month high of C$11.31. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 23.55. The company has a market cap of C$6.39 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The stock has a 50-day moving average price of C$10.36 and a 200-day moving average price of C$10.29.

Whitecap Resources Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.0608 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.73 dividend on an annualized basis and a yield of 6.84%. Whitecap Resources’s dividend payout ratio (DPR) is currently 58.40%.

Insider Activity

In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$10.22, for a total transaction of C$204,400.00. Insiders own 0.84% of the company’s stock.

Whitecap Resources Company Profile

Whitecap Resources Inc, an oil and gas company, focuses on the acquisition, development, and production of oil and gas assets in Western Canada. The company's primary areas of focus of its development programs are in Northern Alberta and British Columbia, Central Alberta, and Saskatchewan. The company was founded in 2009 and is headquartered in Calgary, Canada.