Whitecap Resources (TSE:WCP) Price Target Raised to C$13.00 at Desjardins

Whitecap Resources (TSE:WCP) had its price objective increased by Desjardins from C$12.75 to C$13.00 in a report published on Thursday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

WCP has been the subject of several other research reports. Scotiabank boosted their price target on shares of Whitecap Resources from C$12.00 to C$13.00 in a report on Friday, July 12th. Raymond James upgraded shares of Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. 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 on the stock in a research note on Monday, September 16th. Royal Bank of Canada raised shares of Whitecap Resources to a “moderate buy” rating in a report on Friday, July 26th. Finally, Canaccord Genuity Group dropped their price objective on shares of Whitecap Resources from C$14.50 to C$14.00 in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$13.61.

Whitecap Resources Stock Performance

Shares of TSE WCP opened at C$10.67 on Thursday. The company has a debt-to-equity ratio of 23.55, a quick ratio of 0.67 and a current ratio of 0.94. The company has a market cap of C$6.39 billion, a P/E ratio of 8.54, a P/E/G ratio of -0.33 and a beta of 2.67. The firm’s fifty day moving average is C$10.36 and its two-hundred day moving average is C$10.29. Whitecap Resources has a 52-week low of C$8.15 and a 52-week high of C$11.31.

Whitecap Resources (TSE:WCP) last released its quarterly earnings results on Wednesday, July 24th. The company reported C$0.41 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of C$946.00 million. As a group, analysts anticipate that Whitecap Resources will post 1.1226131 EPS for the current fiscal year.

Whitecap Resources Cuts Dividend

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

Insiders Place Their Bets

In other news, Director Grant Bradley Fagerheim sold 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were 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.