Whitecap Resources (TSE:WCP) Price Target Raised to C$14.50 at Canaccord Genuity Group

Whitecap Resources (TSE:WCP) had its price target raised by Canaccord Genuity Group from C$14.00 to C$14.50 in a research note published on Thursday, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research analysts have also commented on WCP. National Bankshares reduced their price target on Whitecap Resources from C$18.50 to C$15.00 and set an outperform rating on the stock in a report on Wednesday, January 10th. CIBC lifted their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the stock an outperform rating in a report on Monday. Jefferies Financial Group set a C$11.00 price objective on Whitecap Resources and gave the stock a buy rating in a research report on Tuesday, February 27th. Raymond James cut their price objective on Whitecap Resources from C$15.50 to C$13.00 and set a strong-buy rating for the company in a research report on Friday, January 19th. Finally, BMO Capital Markets raised their price objective on Whitecap Resources from C$13.00 to C$14.00 in a research report on Thursday. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of C$13.56.

Whitecap Resources Trading Up 1.1 %

Shares of WCP stock opened at C$10.87 on Thursday. Whitecap Resources has a fifty-two week low of C$8.15 and a fifty-two week high of C$11.91. The company has a debt-to-equity ratio of 25.25, a quick ratio of 0.67 and a current ratio of 0.90. The stock’s fifty day moving average is C$9.96 and its two-hundred day moving average is C$9.63. The firm has a market capitalization of C$6.50 billion, a P/E ratio of 7.45, a PEG ratio of -0.33 and a beta of 2.81.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Wednesday, April 24th. The company reported C$0.10 EPS for the quarter, missing the consensus estimate of C$0.24 by C($0.14). Whitecap Resources had a return on equity of 16.89% and a net margin of 27.52%. The company had revenue of C$933.30 million for the quarter, compared to analysts’ expectations of C$787.00 million. Research analysts expect that Whitecap Resources will post 1.2846626 earnings per share for the current fiscal year.

Whitecap Resources Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.0608 dividend. This represents a $0.73 annualized dividend and a yield of 6.71%. The ex-dividend date is Monday, April 29th. Whitecap Resources’s dividend payout ratio is currently 44.52%.

Insider Buying and Selling at Whitecap Resources

In other news, Director Grant Bradley Fagerheim bought 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was bought at an average cost of C$10.58 per share, with a total value of C$52,900.00. 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.