Whitecap Resources (TSE:WCP) Given New C$14.00 Price Target at Canaccord Genuity Group

Whitecap Resources (TSE:WCP) had its price objective reduced by Canaccord Genuity Group from C$14.50 to C$14.00 in a research note issued to investors on Tuesday, BayStreet.CA reports.

Several other analysts have also issued reports on the stock. Jefferies Financial Group cut their price target on shares of Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Scotiabank increased their price objective on Whitecap Resources from C$12.00 to C$13.00 in a research note on Friday, July 12th. Raymond James raised shares of Whitecap Resources to a “hold” rating in a report on Thursday, October 17th. Royal Bank of Canada upgraded shares of Whitecap Resources to a “moderate buy” rating in a report on Friday, July 26th. Finally, National Bankshares lowered their price target on Whitecap Resources from C$15.50 to C$14.50 in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Whitecap Resources currently has an average rating of “Moderate Buy” and a consensus target price of C$13.61.

Whitecap Resources Stock Up 1.2 %

WCP opened at C$10.54 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 23.55. The business’s fifty day simple moving average is C$10.35 and its 200 day simple moving average is C$10.28. Whitecap Resources has a 52 week low of C$8.15 and a 52 week high of C$11.31. The stock has a market cap of C$6.32 billion, a PE ratio of 8.43, a P/E/G ratio of -0.33 and a beta of 2.67.

Whitecap Resources (TSE:WCP) last posted its quarterly earnings results on Wednesday, July 24th. The company reported C$0.41 EPS for the quarter, topping the consensus estimate of C$0.29 by C$0.12. Whitecap Resources had a net margin of 22.43% and a return on equity of 13.89%. The firm had revenue of C$1.05 billion for the quarter, compared to the consensus estimate of C$946.00 million. As a group, research analysts expect that Whitecap Resources will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.0608 per share. This represents a $0.73 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date is Thursday, October 31st. Whitecap Resources’s payout ratio is 58.40%.

Insider Transactions at Whitecap Resources

In other news, Director Grant Bradley Fagerheim sold 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$10.22, for a total transaction of C$204,400.00. Insiders own 0.84% 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.