Whitecap Resources (TSE:WCP) Given New C$13.00 Price Target at Desjardins

Whitecap Resources (TSE:WCP) had its price target boosted by Desjardins from C$12.75 to C$13.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 21.84% from the stock’s previous close.

WCP has been the subject of several other research reports. Scotiabank increased their price objective on shares of Whitecap Resources from C$12.00 to C$13.00 in a report on Friday, July 12th. Raymond James raised Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. Jefferies Financial Group reduced their price objective on Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. National Bankshares decreased their price objective on Whitecap Resources from C$15.50 to C$14.50 in a report on Friday, September 27th. Finally, Canaccord Genuity Group cut their target price on shares of Whitecap Resources from C$14.50 to C$14.00 in a report on Tuesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$13.61.

Whitecap Resources Trading Up 1.2 %

Shares of WCP opened at C$10.67 on Thursday. The firm has a market cap of C$6.39 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67. Whitecap Resources has a 1 year low of C$8.15 and a 1 year high of C$11.31. The company has a 50 day simple moving average of C$10.36 and a two-hundred day simple moving average of C$10.29.

Whitecap Resources (TSE:WCP) last issued its earnings results on Wednesday, July 24th. The company reported C$0.41 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.29 by C$0.12. The firm had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$946.00 million. Whitecap Resources had a net margin of 22.43% and a return on equity of 13.89%. On average, equities analysts expect that Whitecap Resources will post 1.1226131 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Grant Bradley Fagerheim sold 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$10.22, for a total transaction of C$204,400.00. 0.84% of the stock is owned by insiders.

About Whitecap Resources

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.