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

Whitecap Resources (TSE:WCP) had its price objective increased by Canaccord Genuity Group from C$12.50 to C$14.00 in a research note published on Wednesday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on WCP. Desjardins raised their price objective on shares of Whitecap Resources from C$11.00 to C$11.50 and gave the stock a buy rating in a research note on Friday, February 23rd. ATB Capital lowered their target price on shares of Whitecap Resources from C$15.50 to C$15.00 in a research note on Thursday, February 22nd. Jefferies Financial Group set a C$11.00 target price on shares of Whitecap Resources and gave the stock a buy rating in a research note on Tuesday, February 27th. Raymond James lowered their target price on shares of Whitecap Resources from C$15.50 to C$13.00 and set a strong-buy rating for the company in a research note on Friday, January 19th. Finally, CIBC lowered their target price on shares of Whitecap Resources from C$15.00 to C$14.00 and set an outperform rating for the company in a research note on Tuesday, January 16th. One research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of C$13.27.

Whitecap Resources Trading Up 0.5 %

Shares of WCP opened at C$10.38 on Wednesday. The company has a debt-to-equity ratio of 25.25, a current ratio of 0.90 and a quick ratio of 0.67. The firm has a 50 day simple moving average of C$9.84 and a 200-day simple moving average of C$9.65. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.91. The stock has a market cap of C$6.21 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of -0.33 and a beta of 2.81.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings data on Wednesday, February 21st. The company reported C$0.49 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.30 by C$0.19. Whitecap Resources had a net margin of 27.52% and a return on equity of 16.89%. The business had revenue of C$914.10 million during the quarter. Equities analysts forecast that Whitecap Resources will post 1.2846626 EPS for the current fiscal year.

Whitecap Resources Cuts Dividend

The company also recently disclosed 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 7.03%. Whitecap Resources’s payout ratio is 44.52%.

Insider Transactions at Whitecap Resources

In other news, Director Grant Bradley Fagerheim acquired 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was acquired at an average cost of C$10.58 per share, for a total transaction of C$52,900.00. Insiders own 0.74% 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.