Whitecap Resources (TSE:WCP) Upgraded at Raymond James

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

Other equities research analysts also recently issued reports about the company. National Bankshares decreased their target price on shares of Whitecap Resources from C$15.50 to C$14.50 in a research note on Friday, September 27th. Royal Bank of Canada upgraded Whitecap Resources to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group dropped their target price 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 upped their price target on shares of Whitecap Resources from C$12.00 to C$13.00 in a research report on Friday, July 12th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$13.57.

Whitecap Resources Stock Performance

Whitecap Resources stock opened at C$10.31 on Thursday. The stock has a market cap of C$6.18 billion, a price-to-earnings ratio of 8.25, a PEG ratio of -0.33 and a beta of 2.67. 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 stock’s 50 day simple moving average is C$10.34 and its two-hundred day simple moving average is C$10.29. Whitecap Resources has a fifty-two week low of C$8.15 and a fifty-two week high of C$11.35.

Whitecap Resources (TSE:WCP) last released its earnings results on Wednesday, July 24th. The company reported C$0.41 earnings per share (EPS) for the quarter, beating 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 firm had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$946.00 million. As a group, analysts expect that Whitecap Resources will post 1.1226131 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 Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.0608 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.73 annualized dividend and a yield of 7.08%. Whitecap Resources’s dividend payout ratio is currently 58.40%.

Insider Buying and Selling

In related news, Director Grant Bradley Fagerheim sold 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$10.22, for a total transaction of C$204,400.00. 0.84% of the stock is owned by corporate insiders.

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.