Whitecap Resources (TSE:WCP) Price Target Raised to C$14.00 at Canaccord Genuity Group

Whitecap Resources (TSE:WCP) had its target price lifted by Canaccord Genuity Group from C$12.50 to C$14.00 in a report issued on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the company. Desjardins boosted their price target on Whitecap Resources from C$11.00 to C$11.50 and gave the stock a buy rating in a research report on Friday, February 23rd. CIBC lowered their price objective on Whitecap Resources from C$15.00 to C$14.00 and set an outperform rating on the stock in a research note on Tuesday, January 16th. Raymond James lowered their price objective on Whitecap Resources from C$15.50 to C$13.00 and set a strong-buy rating on the stock in a research note on Friday, January 19th. Stifel Nicolaus boosted their price objective on Whitecap Resources from C$12.25 to C$12.75 and gave the stock a buy rating in a research note on Thursday, February 22nd. Finally, ATB Capital lowered their price objective on Whitecap Resources from C$15.50 to C$15.00 in a research note on Thursday, February 22nd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of C$13.27.

Whitecap Resources Stock Down 1.0 %

Shares of WCP opened at C$10.39 on Wednesday. The company has a debt-to-equity ratio of 25.25, a quick ratio of 0.67 and a current ratio of 0.90. Whitecap Resources has a one year low of C$8.15 and a one year high of C$11.91. The stock has a market capitalization of C$6.21 billion, a price-to-earnings ratio of 7.12, a PEG ratio of -0.33 and a beta of 2.81. The stock has a 50 day moving average price of C$9.76 and a 200 day moving average price of C$9.65.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings results on Wednesday, February 21st. The company reported C$0.49 EPS for the quarter, topping the consensus estimate of C$0.30 by C$0.19. Whitecap Resources had a return on equity of 16.89% and a net margin of 27.52%. The firm had revenue of C$914.10 million during the quarter. Equities research analysts forecast that Whitecap Resources will post 1.2846626 earnings per share for the current fiscal year.

Whitecap Resources Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.0608 dividend. This represents a $0.73 annualized dividend and a dividend yield of 7.02%. The ex-dividend date is Monday, April 29th. Whitecap Resources’s dividend payout ratio (DPR) is presently 44.52%.

Insider Activity at Whitecap Resources

In other news, Director Grant Bradley Fagerheim acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were purchased at an average price of C$10.58 per share, for a total transaction of C$52,900.00. Company insiders own 0.74% of the company’s stock.

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.