Whitecap Resources (TSE:WCP) Price Target Cut to C$14.50 by Analysts at ATB Capital

Whitecap Resources (TSE:WCP) had its target price decreased by ATB Capital from C$15.00 to C$14.50 in a research note issued to investors on Thursday, BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

Several other analysts have also recently commented on WCP. Desjardins raised their target price on Whitecap Resources from C$12.75 to C$13.00 and gave the company a “buy” rating in a research report on Thursday. Raymond James upgraded Whitecap Resources to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada upgraded Whitecap Resources to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group lowered their price target on 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. Finally, Scotiabank lifted their price target on Whitecap Resources from C$12.00 to C$13.00 in a research report on Friday, July 12th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Whitecap Resources has a consensus rating of “Moderate Buy” and an average price target of C$13.61.

Whitecap Resources Stock Up 1.2 %

WCP opened at C$10.54 on Thursday. Whitecap Resources has a 12 month low of C$8.15 and a 12 month high of C$11.31. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67. The stock has a market cap of C$6.32 billion, a P/E ratio of 8.43, a P/E/G ratio of -0.33 and a beta of 2.67. The stock’s 50 day moving average price is C$10.35 and its 200 day moving average price is C$10.28.

Whitecap Resources (TSE:WCP) last posted its earnings results on Wednesday, July 24th. The company reported C$0.41 EPS for the quarter, beating the consensus estimate of C$0.29 by C$0.12. Whitecap Resources had a return on equity of 13.89% and a net margin of 22.43%. The firm had revenue of C$1.05 billion for the quarter, compared to analysts’ expectations of C$946.00 million. As a group, research analysts predict that Whitecap Resources will post 1.1226131 earnings per share for the current year.

Whitecap Resources Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.0608 per share. This represents a $0.73 annualized dividend and a yield of 6.92%. The ex-dividend date is Thursday, October 31st. Whitecap Resources’s payout ratio is presently 58.40%.

Insider Activity at Whitecap Resources

In related 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.

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.