Whitecap Resources (TSE:WCP) Price Target Raised to C$14.00 at BMO Capital Markets

Whitecap Resources (TSE:WCP) had its price objective upped by BMO Capital Markets from C$13.00 to C$14.00 in a report released on Thursday, BayStreet.CA reports.

Several other equities research analysts also recently commented on the company. Canaccord Genuity Group boosted their price objective on Whitecap Resources from C$12.50 to C$14.00 and gave the company a buy rating in a report on Wednesday, April 17th. Desjardins lifted their target price on Whitecap Resources from C$11.00 to C$11.50 and gave the company a buy rating in a research report on Friday, February 23rd. CIBC lifted their target price on Whitecap Resources from C$14.00 to C$15.00 and gave the company an outperform rating in a research report on Monday. Jefferies Financial Group set a C$11.00 target price on Whitecap Resources and gave the company a buy rating in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus lifted their target price on Whitecap Resources from C$12.75 to C$13.75 and gave the company a buy rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of C$13.56.

Whitecap Resources Stock Performance

TSE:WCP opened at C$10.87 on Thursday. The stock’s 50-day simple moving average is C$9.96 and its 200 day simple moving average is C$9.63. The firm has a market capitalization of C$6.50 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of -0.33 and a beta of 2.81. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 25.25. Whitecap Resources has a twelve month low of C$8.15 and a twelve month high of C$11.91.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings results on Wednesday, April 24th. The company reported C$0.10 EPS for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.14). Whitecap Resources had a net margin of 27.52% and a return on equity of 16.89%. The firm had revenue of C$933.30 million for the quarter, compared to analyst estimates of C$787.00 million. On average, analysts anticipate that Whitecap Resources will post 1.2846626 EPS 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 paid a $0.0608 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.73 annualized dividend and a dividend yield of 6.71%. Whitecap Resources’s payout ratio is presently 44.52%.

Insider Buying and Selling at Whitecap Resources

In other news, Director Grant Bradley Fagerheim bought 3,723 shares of the stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of C$8.17 per share, for a total transaction of C$30,416.91. Corporate insiders own 0.74% of the company’s stock.

Whitecap Resources Company Profile

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.