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

Whitecap Resources (TSE:WCP) had its price objective upped by Scotiabank from C$14.00 to C$15.00 in a research note published on Tuesday morning, Marketbeat.com reports. They currently have a hold rating on the stock.

Several other research analysts have also commented on WCP. Raymond James Financial lifted their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 23rd. TD Securities lifted their target price on Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. National Bankshares set a C$15.00 price target on Whitecap Resources and gave the company an “outperform” rating in a report on Friday, January 9th. Desjardins raised their price target on Whitecap Resources from C$13.00 to C$13.50 and gave the stock a “buy” rating in a research report on Friday, October 24th. Finally, Capital One Financial upgraded shares of Whitecap Resources to a “strong-buy” rating in a research report on Monday, October 27th. Four investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$14.25.

Whitecap Resources Trading Down 0.2%

WCP stock opened at C$11.90 on Tuesday. The firm has a fifty day moving average price of C$11.49 and a 200 day moving average price of C$10.77. Whitecap Resources has a fifty-two week low of C$6.87 and a fifty-two week high of C$12.02. The firm has a market cap of C$14.45 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of -0.33 and a beta of 0.62. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88.

Whitecap Resources (TSE:WCP) last released its quarterly earnings results on Wednesday, October 22nd. The company reported C$0.17 earnings per share (EPS) for the quarter. Whitecap Resources had a net margin of 24.23% and a return on equity of 15.86%. The company had revenue of C$1.55 billion for the quarter. Sell-side analysts anticipate that Whitecap Resources will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were issued a $0.0608 dividend. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. Whitecap Resources’s dividend payout ratio is presently 64.57%.

Insiders Place Their Bets

In related news, Director Bradley John Wall acquired 2,800 shares of the stock in a transaction on Wednesday, October 29th. The stock was bought at an average cost of C$10.70 per share, with a total value of C$29,960.00. Following the transaction, the director directly owned 3,800 shares in the company, valued at approximately C$40,660. This represents a 280.00% increase in their ownership of the stock. 0.84% of the stock is owned by insiders.

About Whitecap Resources

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.