Whitecap Resources (TSE:WCP) Price Target Raised to C$15.00 at Scotiabank

Whitecap Resources (TSE:WCP) had its target price lifted by Scotiabank from C$14.00 to C$15.00 in a report released on Tuesday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

A number of other research analysts have also issued reports on WCP. TD Securities boosted their price target on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Raymond James Financial lifted their price objective on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 23rd. Tudor Pickering upgraded shares of Whitecap Resources to a “strong-buy” rating in a research report on Wednesday, October 15th. Capital One Financial raised shares of Whitecap Resources to a “strong-buy” rating in a research note on Monday, October 27th. Finally, National Bankshares set a C$15.00 price target on shares of Whitecap Resources and gave the stock an “outperform” rating in a research note on Friday, January 9th. Four equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$14.25.

Whitecap Resources Price Performance

TSE WCP opened at C$11.59 on Tuesday. The company has a 50-day moving average price of C$11.45 and a two-hundred day moving average price of C$10.76. Whitecap Resources has a 52 week low of C$6.87 and a 52 week high of C$12.02. The stock has a market cap of C$14.07 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of -0.33 and a beta of 0.62. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported C$0.17 earnings per share (EPS) for the quarter. Whitecap Resources had a return on equity of 15.86% and a net margin of 24.23%.The business had revenue of C$1.55 billion during the quarter. Analysts forecast that Whitecap Resources will post 1.1226131 EPS for the current year.

Whitecap Resources Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 17th were issued a $0.0608 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date was Friday, October 31st. Whitecap Resources’s payout ratio is presently 64.57%.

Insider Buying and Selling

In other Whitecap Resources news, Director Bradley John Wall bought 2,800 shares of Whitecap Resources stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average cost of C$10.70 per share, for a total transaction of C$29,960.00. Following the completion of the acquisition, the director owned 3,800 shares of the company’s stock, valued at approximately C$40,660. This represents a 280.00% increase in their position. 0.84% of the stock is currently owned by corporate 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. To extract petroleum products from its resources, the company uses horizontal drilling, in addition to multistage fracturing technology. Crude oil is the leading revenue generator out of the basket of energy products sold by Whitecap.