Whitecap Resources (TSE:WCP) Price Target Cut to C$14.50

Whitecap Resources (TSE:WCP) had its price objective reduced by ATB Capital from C$15.00 to C$14.50 in a report published on Thursday morning, BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group decreased their price objective on Whitecap Resources from C$14.50 to C$14.00 in a research note on Tuesday, October 22nd. Scotiabank increased their target price on shares of Whitecap Resources from C$12.00 to C$13.00 in a report on Friday, July 12th. Jefferies Financial Group lowered their price target on shares of Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Raymond James raised shares of Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada upgraded shares of Whitecap Resources to a “moderate buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$13.61.

Whitecap Resources Trading Up 1.2 %

TSE:WCP opened at C$10.67 on Thursday. Whitecap Resources has a one year low of C$8.15 and a one year high of C$11.31. The business has a fifty day moving average price of C$10.36 and a 200-day moving average price of C$10.29. The firm has a market capitalization of C$6.39 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67.

Whitecap Resources Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.0608 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.73 dividend on an annualized basis and a yield of 6.84%. Whitecap Resources’s dividend payout ratio is currently 58.40%.

Insiders Place Their Bets

In related news, Director Grant Bradley Fagerheim sold 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$10.22, for a total value of C$204,400.00. Corporate insiders own 0.84% of the company’s stock.

About Whitecap Resources

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.