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

Whitecap Resources (TSE:WCP) had its price target increased by Canaccord Genuity Group from C$12.50 to C$14.00 in a report published on Wednesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also weighed in on the company. Raymond James cut their target price on Whitecap Resources from C$15.50 to C$13.00 and set a strong-buy rating on the stock in a research report on Friday, January 19th. National Bankshares lowered their price target on Whitecap Resources from C$18.50 to C$15.00 and set an outperform rating for the company in a report on Wednesday, January 10th. CIBC lowered their price target on Whitecap Resources from C$15.00 to C$14.00 and set an outperform rating for the company in a report on Tuesday, January 16th. Stifel Nicolaus increased their price target on Whitecap Resources from C$12.25 to C$12.75 and gave the company a buy rating in a report on Thursday, February 22nd. Finally, Desjardins increased their price target on Whitecap Resources from C$11.00 to C$11.50 and gave the company a buy rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Whitecap Resources presently has an average rating of Buy and an average price target of C$13.27.

Whitecap Resources Trading Down 1.0 %

Shares of WCP opened at C$10.39 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 25.25. The firm has a market capitalization of C$6.21 billion, a P/E ratio of 7.12, a price-to-earnings-growth ratio of -0.33 and a beta of 2.81. The stock’s fifty day simple moving average is C$9.76 and its 200 day simple moving average is C$9.65. Whitecap Resources has a twelve month low of C$8.15 and a twelve month high of C$11.91.

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

Whitecap Resources Cuts Dividend

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

Insider Activity

In related news, Director Grant Bradley Fagerheim purchased 3,723 shares of Whitecap Resources stock in a transaction dated Monday, February 5th. The shares were acquired at an average price of C$8.17 per share, with a total value of C$30,416.91. Insiders own 0.74% of the company’s stock.

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.