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

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

Several other research analysts also recently commented on WCP. CIBC dropped their target price on shares of Whitecap Resources from C$15.00 to C$14.00 and set an outperform rating on the stock in a report on Tuesday, January 16th. ATB Capital dropped their target price on shares of Whitecap Resources from C$15.50 to C$15.00 in a report 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 report on Tuesday, February 27th. National Bankshares dropped their target price on shares of Whitecap Resources from C$18.50 to C$15.00 and set an outperform rating on the stock in a report on Wednesday, January 10th. Finally, Raymond James dropped their target price on shares of Whitecap Resources from C$15.50 to C$13.00 and set a strong-buy rating on the stock in a report on Friday, January 19th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Buy and an average target price of C$13.27.

Whitecap Resources Stock Up 0.5 %

Whitecap Resources stock opened at C$10.38 on Wednesday. The company has a market capitalization of C$6.21 billion, a P/E ratio of 7.11, a P/E/G ratio of -0.33 and a beta of 2.81. The firm’s fifty day simple moving average is C$9.84 and its 200-day simple moving average is C$9.65. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 25.25. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.91.

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

Whitecap Resources Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.0608 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.73 annualized dividend and a yield of 7.03%. Whitecap Resources’s dividend payout ratio is 44.52%.

Insider Activity

In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 3,723 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were acquired at an average cost of C$8.17 per share, for a total transaction of C$30,416.91. 0.74% of the stock is owned by company insiders.

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.