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

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

A number of other research analysts have also weighed in on the stock. National Bankshares decreased 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. ATB Capital decreased their target price on shares of Whitecap Resources from C$15.50 to C$15.00 in a research note on Thursday, February 22nd. Raymond James decreased their target price 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. BMO Capital Markets raised their target price on shares of Whitecap Resources from C$13.00 to C$14.00 in a research note on Thursday. Finally, Desjardins raised their price target on shares of Whitecap Resources from C$11.00 to C$11.50 and gave the stock a buy rating in a report on Friday, February 23rd. One investment 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 stock. Based on data from MarketBeat, Whitecap Resources currently has an average rating of Buy and a consensus price target of C$13.56.

Whitecap Resources Trading Down 0.9 %

Shares of Whitecap Resources stock opened at C$10.77 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 25.25. The firm’s 50-day moving average price is C$10.04 and its 200 day moving average price is C$9.62. Whitecap Resources has a twelve month low of C$8.15 and a twelve month high of C$11.91. The firm has a market capitalization of C$6.44 billion, a PE ratio of 7.38, a P/E/G ratio of -0.33 and a beta of 2.81.

Whitecap Resources (TSE:WCP) last released its earnings results on Wednesday, April 24th. The company reported C$0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of C$933.30 million during the quarter, compared to analysts’ expectations of C$787.00 million. On average, sell-side analysts predict that Whitecap Resources will post 1.2846626 EPS 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. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.0608 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.77%. Whitecap Resources’s dividend payout ratio is currently 44.52%.

Insider Transactions at Whitecap Resources

In related news, Director Grant Bradley Fagerheim bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was purchased at an average price of C$10.58 per share, for a total transaction of C$52,900.00. 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.