Canaccord Genuity Group Boosts Whitecap Resources (TSE:WCP) Price Target to C$14.00

Whitecap Resources (TSE:WCP) had its target price lifted by Canaccord Genuity Group from C$12.50 to C$14.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently commented on WCP. ATB Capital dropped their price objective on shares of Whitecap Resources from C$15.50 to C$15.00 in a research note on Thursday, February 22nd. Raymond James dropped their price objective on shares of Whitecap Resources from C$15.50 to C$13.00 and set a strong-buy rating on the stock in a research note on Friday, January 19th. National Bankshares dropped their price objective 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. Stifel Nicolaus raised their price objective on shares of Whitecap Resources from C$12.25 to C$12.75 and gave the stock a buy rating in a research note on Thursday, February 22nd. Finally, CIBC dropped their price objective on shares of Whitecap Resources from C$15.00 to C$14.00 and set an outperform rating on the stock in a research note on Tuesday, January 16th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Buy and an average target price of C$13.27.

Whitecap Resources Price Performance

Shares of TSE WCP opened at C$10.38 on Wednesday. The business’s 50 day moving average price is C$9.84 and its 200 day moving average price is C$9.64. The firm has a market cap of C$6.21 billion, a P/E ratio of 7.11, a P/E/G ratio of -0.33 and a beta of 2.81. Whitecap Resources has a 52 week low of C$8.15 and a 52 week high of C$11.91. 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 (TSE:WCP) last released its quarterly earnings data on Wednesday, February 21st. The company reported C$0.49 EPS for the quarter, topping the consensus estimate of C$0.30 by C$0.19. The business had revenue of C$914.10 million for the quarter. Whitecap Resources had a return on equity of 16.89% and a net margin of 27.52%. On average, sell-side analysts expect that Whitecap Resources will post 1.2846626 earnings per share for the current year.

Whitecap Resources Cuts Dividend

The firm 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 dividend of $0.0608 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.73 annualized dividend and a yield of 7.03%. Whitecap Resources’s dividend payout ratio (DPR) is presently 44.52%.

Insiders Place Their Bets

In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 3,723 shares of the stock in a transaction on Monday, February 5th. The shares were bought at an average price of C$8.17 per share, with a total value of C$30,416.91. 0.74% of the stock is currently owned by corporate insiders.

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.