Desjardins Boosts Whitecap Resources (TSE:WCP) Price Target to C$13.50

Whitecap Resources (TSE:WCP) had its target price upped by Desjardins from C$13.00 to C$13.50 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 27.00% from the company’s previous close.

WCP has been the topic of a number of other research reports. Tudor Pickering upgraded Whitecap Resources to a “strong-buy” rating in a report on Wednesday, October 15th. Raymond James Financial lifted their price objective on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a research report on Thursday. TD Securities upped their target price on Whitecap Resources from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday. National Bankshares decreased their target price on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating for the company in a report on Wednesday. Finally, Scotiabank upped their target price on Whitecap Resources from C$12.00 to C$14.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$14.00.

Whitecap Resources Price Performance

WCP stock opened at C$10.63 on Friday. The stock has a market capitalization of C$13.09 billion, a price-to-earnings ratio of 7.28, a PEG ratio of -0.33 and a beta of 0.66. The firm’s 50-day moving average price is C$10.53 and its two-hundred day moving average price is C$9.56. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. Whitecap Resources has a 12-month low of C$6.87 and a 12-month high of C$11.30.

Insiders Place Their Bets

In other news, Director Grant Bradley Fagerheim acquired 15,000 shares of the business’s stock in a transaction on Friday, October 10th. The shares were acquired at an average cost of C$10.60 per share, with a total value of C$159,000.00. Following the transaction, the director owned 3,220,745 shares in the company, valued at C$34,139,897. The trade was a 0.47% increase in their position. Over the last quarter, insiders purchased 25,000 shares of company stock worth $264,150. Insiders own 0.84% of the company’s stock.

About Whitecap Resources

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.