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

Whitecap Resources (TSE:WCP) had its price target hoisted by CIBC from C$14.00 to C$15.00 in a research note released on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group boosted their target price on shares of Whitecap Resources from C$12.50 to C$14.00 and gave the company a buy rating in a research note on Wednesday, April 17th. National Bankshares cut their target price on shares of Whitecap Resources from C$18.50 to C$15.00 and set an outperform rating on the stock in a research note on Wednesday, January 10th. BMO Capital Markets set a C$13.00 target price on shares of Whitecap Resources and gave the company an outperform rating in a research note on Thursday, March 21st. ATB Capital cut their target price on shares of Whitecap Resources from C$15.50 to C$15.00 in a research note on Thursday, February 22nd. Finally, Desjardins boosted their target price 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of C$13.44.

Whitecap Resources Price Performance

TSE WCP opened at C$10.75 on Monday. The stock has a market capitalization of C$6.43 billion, a P/E ratio of 7.36, a P/E/G ratio of -0.33 and a beta of 2.81. Whitecap Resources has a 1 year low of C$8.15 and a 1 year high of C$11.91. The business’s fifty day moving average is C$9.91 and its two-hundred day moving average is C$9.62. The company has a debt-to-equity ratio of 25.25, a quick ratio of 0.67 and a current ratio of 0.90.

Whitecap Resources (TSE:WCP) last announced its earnings results on Wednesday, February 21st. The company reported C$0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of C$914.10 million for the quarter. On average, research analysts forecast that Whitecap Resources will post 1.2846626 earnings per share for the current fiscal year.

Whitecap Resources Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.0608 per share. This represents a $0.73 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date is Monday, April 29th. Whitecap Resources’s dividend payout ratio (DPR) is 44.52%.

Insider Buying and Selling at Whitecap Resources

In other news, Director Grant Bradley Fagerheim purchased 5,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was bought at an average cost of C$10.58 per share, for a total transaction of C$52,900.00. Corporate insiders own 0.74% of the company’s stock.

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.