Whitecap Resources (TSE:WCP) PT Lowered to C$14.00 at Canaccord Genuity Group

Whitecap Resources (TSE:WCP) had its price objective reduced by Canaccord Genuity Group from C$14.50 to C$14.00 in a research note released on Tuesday, BayStreet.CA reports.

WCP has been the topic of a number of other reports. Royal Bank of Canada upgraded shares of Whitecap Resources to a “moderate buy” rating in a research note on Friday, July 26th. Raymond James upgraded Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. Scotiabank raised their target price on Whitecap Resources from C$12.00 to C$13.00 in a research report on Friday, July 12th. National Bankshares dropped their price target on Whitecap Resources from C$15.50 to C$14.50 in a research report on Friday, September 27th. Finally, Jefferies Financial Group decreased their price objective on Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating for the company in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Whitecap Resources currently has an average rating of “Moderate Buy” and an average price target of C$13.61.

Whitecap Resources Stock Up 1.2 %

Shares of TSE:WCP opened at C$10.67 on Tuesday. Whitecap Resources has a 1 year low of C$8.15 and a 1 year high of C$11.31. The company has a market capitalization of C$6.39 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The business has a fifty day moving average price of C$10.36 and a two-hundred day moving average price of C$10.29. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings results on Wednesday, July 24th. The company reported C$0.41 earnings per share 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 company had revenue of C$1.05 billion for the quarter, compared to the consensus estimate of C$946.00 million. Analysts forecast that Whitecap Resources will post 1.1226131 earnings per share for the current 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 issued a dividend of $0.0608 per share. This represents a $0.73 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend is Thursday, October 31st. Whitecap Resources’s payout ratio is presently 58.40%.

Insider Transactions at Whitecap Resources

In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the 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 value 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.