Whitecap Resources (TSE:WCP) Upgraded at Desjardins

Desjardins upgraded shares of Whitecap Resources (TSE:WCP) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The firm currently has C$12.50 target price on the stock, up from their prior target price of C$12.00.

A number of other equities research analysts also recently weighed in on the company. Scotiabank raised 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 Bankshares lifted their price objective on Whitecap Resources from C$14.50 to C$15.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. National Bank Financial upgraded Whitecap Resources to a “strong-buy” rating in a research report on Monday, May 12th. Finally, Raymond James Financial upped their target price on Whitecap Resources from C$13.00 to C$14.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$13.25.

Whitecap Resources Stock Performance

TSE WCP opened at C$10.42 on Tuesday. The company’s fifty day moving average is C$9.89 and its two-hundred day moving average is C$9.15. Whitecap Resources has a 52-week low of C$6.87 and a 52-week high of C$11.31. The company has a debt-to-equity ratio of 21.58, a current ratio of 0.88 and a quick ratio of 0.67. The firm has a market capitalization of C$6.08 billion, a price-to-earnings ratio of 7.03, a P/E/G ratio of -0.33 and a beta of 2.67.

Whitecap Resources Announces Dividend

The company also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 15th will be issued a dividend of $0.0608 per share. This represents a yield of 699.0%. The ex-dividend date of this dividend is Friday, August 29th. Whitecap Resources’s dividend payout ratio (DPR) is currently 49.25%.

Insider Buying and Selling

In other news, Director Grant Bradley Fagerheim acquired 15,000 shares of the firm’s stock in a transaction on Thursday, July 10th. The shares were purchased at an average cost of C$9.43 per share, with a total value of C$141,450.00. Insiders have bought 30,000 shares of company stock valued at $282,200 in the last quarter. 0.84% of the stock is owned by insiders.

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.