Whitecap Resources (TSE:WCP) Price Target Raised to C$27.00

Whitecap Resources (TSE:WCP) had its price objective hoisted by National Bank Financial from C$26.00 to C$27.00 in a research note released on Wednesday morning,BayStreet reports. National Bank Financial currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Desjardins set a C$22.00 price target on shares of Whitecap Resources and gave the company a “buy” rating in a research report on Friday, July 17th. TD boosted their target price on Whitecap Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Three investment analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$18.91.

Whitecap Resources Trading Up 1.5%

Shares of TSE WCP opened at C$18.00 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.56 and a debt-to-equity ratio of 24.14. The stock has a market capitalization of C$21.89 billion, a P/E ratio of 16.07, a PEG ratio of -0.33 and a beta of 0.21. Whitecap Resources has a 52-week low of C$10.08 and a 52-week high of C$19.39. The stock’s 50 day moving average price is C$17.63 and its two-hundred day moving average price is C$16.28.

Whitecap Resources (TSE:WCP) last issued its earnings results on Wednesday, July 29th. The company reported C$0.73 EPS for the quarter. Whitecap Resources had a return on equity of 12.87% and a net margin of 19.66%.The company had revenue of C$2.35 billion during the quarter. On average, analysts anticipate that Whitecap Resources will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were paid a $0.0608 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.73 dividend on an annualized basis and a yield of 4.1%. Whitecap Resources’s payout ratio is presently 65.14%.

Insider Activity at Whitecap Resources

In related news, insider Joseph Adam Wong bought 7,500 shares of Whitecap Resources stock in a transaction dated Monday, July 6th. The shares were bought at an average cost of C$14.46 per share, for a total transaction of C$108,450.00. Following the completion of the transaction, the insider owned 111,416 shares of the company’s stock, valued at approximately C$1,611,075.36. This trade represents a 7.22% increase in their ownership of the stock. Also, Director Grant Bradley Fagerheim purchased 10,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were bought at an average cost of C$14.46 per share, for a total transaction of C$144,600.00. Following the completion of the purchase, the director directly owned 3,308,099 shares of the company’s stock, valued at C$47,835,111.54. The trade was a 0.30% increase in their ownership of the stock. Corporate insiders own 0.84% of the company’s stock.

About Whitecap Resources

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.