Whitecap Resources (TSE:WCP) Price Target Raised 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 note published on Thursday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other brokerages have also issued reports on WCP. Royal Bank of Canada upgraded shares of Whitecap Resources to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group decreased their target price on shares of Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Canaccord Genuity Group decreased their target price on shares of Whitecap Resources from C$14.50 to C$14.00 in a research report on Tuesday. Scotiabank raised their target price on shares of Whitecap Resources from C$12.00 to C$13.00 in a research report on Friday, July 12th. Finally, Raymond James upgraded shares of Whitecap Resources to a “hold” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$13.61.

Whitecap Resources Trading Up 1.2 %

Shares of WCP opened at C$10.54 on Thursday. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67. The firm has a 50 day simple moving average of C$10.35 and a 200-day simple moving average of C$10.28. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.31. The stock has a market cap of C$6.32 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67.

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

Whitecap Resources Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.0608 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.73 annualized dividend and a dividend yield of 6.92%. Whitecap Resources’s payout ratio is 58.40%.

Insider Buying and Selling

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

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.