Whitecap Resources (TSE:WCP) Upgraded by Raymond James to “Hold”

Raymond James upgraded shares of Whitecap Resources (TSE:WCP) to a hold rating in a report released on Thursday, Zacks.com reports.

WCP has been the subject of a number of other reports. National Bankshares cut their price objective on Whitecap Resources from C$15.50 to C$14.50 in a research report on Friday, September 27th. Scotiabank increased their price target on Whitecap Resources from C$12.00 to C$13.00 in a research note on Friday, July 12th. Royal Bank of Canada raised shares of Whitecap Resources to a “moderate buy” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group dropped their price objective on shares of Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$13.57.

Whitecap Resources Stock Performance

TSE WCP opened at C$10.31 on Thursday. The firm has a market capitalization of C$6.18 billion, a P/E ratio of 8.25, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 23.55. The firm’s fifty day moving average price is C$10.34 and its two-hundred day moving average price is C$10.29. Whitecap Resources has a 1 year low of C$8.15 and a 1 year high of C$11.35.

Whitecap Resources (TSE:WCP) last released its quarterly earnings data on Wednesday, July 24th. The company reported C$0.41 earnings per share 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 company had revenue of C$1.05 billion for the quarter, compared to analyst estimates of C$946.00 million. As a group, research analysts anticipate that Whitecap Resources will post 1.1226131 EPS for the current year.

Whitecap Resources Cuts Dividend

The firm 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 $0.0608 dividend. This represents a $0.73 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend is Thursday, October 31st. Whitecap Resources’s dividend payout ratio (DPR) is 58.40%.

Insider Buying and Selling at Whitecap Resources

In other news, Director Grant Bradley Fagerheim sold 20,000 shares of the firm’s stock in a transaction that occurred on 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.

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.