Whitecap Resources (TSE:WCP) Price Target Raised to C$13.75

Whitecap Resources (TSE:WCP) had its target price boosted by Stifel Nicolaus from C$12.75 to C$13.75 in a report published on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on WCP. Jefferies Financial Group set a C$11.00 price target on shares of Whitecap Resources and gave the stock a buy rating in a report on Tuesday, February 27th. Raymond James dropped 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 note on Friday, January 19th. National Bankshares decreased their price target on Whitecap Resources from C$18.50 to C$15.00 and set an outperform rating for the company in a research note on Wednesday, January 10th. CIBC lifted their target price on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock an outperform rating in a research note on Monday. Finally, Desjardins upped their price target on shares of Whitecap Resources from C$11.00 to C$11.50 and gave the company a buy rating in a research note on Friday, February 23rd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of C$13.44.

Whitecap Resources Price Performance

Shares of WCP stock opened at C$10.65 on Tuesday. The stock’s 50-day moving average is C$9.91 and its 200 day moving average is C$9.62. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.91. The company has a debt-to-equity ratio of 25.25, a current ratio of 0.90 and a quick ratio of 0.67. The company has a market cap of C$6.37 billion, a P/E ratio of 7.29, a PEG ratio of -0.33 and a beta of 2.81.

Whitecap Resources (TSE:WCP) last released its quarterly earnings results on Wednesday, February 21st. The company reported C$0.49 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.30 by C$0.19. Whitecap Resources had a net margin of 27.52% and a return on equity of 16.89%. The business had revenue of C$914.10 million for the quarter. Research analysts predict that Whitecap Resources will post 1.2846626 earnings per share for the current fiscal year.

Whitecap Resources Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, April 29th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.85%. Whitecap Resources’s payout ratio is currently 44.52%.

Insider Buying and Selling

In other Whitecap Resources news, Director Grant Bradley Fagerheim purchased 3,723 shares of the stock in a transaction on Monday, February 5th. The shares were bought at an average cost of C$8.17 per share, with a total value of C$30,416.91. 0.74% of the stock is currently owned by corporate insiders.

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.