Whitecap Resources (TSE:WCP) Upgraded at Scotiabank

Scotiabank upgraded shares of Whitecap Resources (TSE:WCP) from a hold rating to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

Several other research firms also recently commented on WCP. ATB Cormark Capital Markets lifted their price target on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, February 24th. TD Securities upped their price objective on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. National Bank Financial increased their target price on shares of Whitecap Resources from C$15.00 to C$16.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Desjardins increased their target price on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Raymond James Financial cut shares of Whitecap Resources from a “strong-buy” rating to a “moderate buy” rating and lifted their target price for the stock from C$15.00 to C$16.00 in a research report on Tuesday, February 24th. Three investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$15.15.

Whitecap Resources Price Performance

Shares of Whitecap Resources stock opened at C$14.93 on Thursday. The firm has a market capitalization of C$18.12 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of -0.33 and a beta of 0.67. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 40.03. Whitecap Resources has a 12 month low of C$6.87 and a 12 month high of C$15.11. The business’s 50-day moving average price is C$13.07 and its 200-day moving average price is C$11.72.

Whitecap Resources (TSE:WCP) last released its earnings results on Monday, February 23rd. The company reported C$0.26 earnings per share for the quarter. The company had revenue of C$1.51 billion during the quarter. Whitecap Resources had a return on equity of 10.14% and a net margin of 18.38%. Sell-side analysts forecast that Whitecap Resources will post 1.1226131 EPS for the current fiscal year.

Whitecap Resources Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 16th were given a $0.0608 dividend. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a yield of 4.9%. Whitecap Resources’s payout ratio is presently 73.70%.

About Whitecap Resources

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.