ATB Capital Cuts Whitecap Resources (TSE:WCP) Price Target to C$14.50

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

Several other equities analysts have also recently issued reports on WCP. Desjardins boosted their price target on shares of Whitecap Resources from C$12.75 to C$13.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada upgraded shares of Whitecap Resources to a “moderate buy” rating in a report on Friday, July 26th. Raymond James upgraded shares of Whitecap Resources to a “hold” rating in a research note on Thursday, October 17th. Scotiabank upped their target price on shares of Whitecap Resources from C$12.00 to C$13.00 in a report on Friday, July 12th. Finally, Canaccord Genuity Group reduced their price objective on shares of Whitecap Resources from C$14.50 to C$14.00 in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$13.61.

Whitecap Resources Trading Up 1.2 %

Whitecap Resources stock opened at C$10.67 on Thursday. The stock has a market cap of C$6.39 billion, a P/E ratio of 8.54, a PEG ratio of -0.33 and a beta of 2.67. Whitecap Resources has a fifty-two week low of C$8.15 and a fifty-two week high of C$11.31. The firm’s fifty day moving average price is C$10.36 and its 200-day moving average price is C$10.29. The company has a debt-to-equity ratio of 23.55, a quick ratio of 0.67 and a current ratio of 0.94.

Whitecap Resources (TSE:WCP) last posted its quarterly 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 business had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$946.00 million. Equities research analysts forecast that Whitecap Resources will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.0608 dividend. This represents a $0.73 annualized dividend and a dividend yield of 6.84%. The ex-dividend date is Thursday, October 31st. Whitecap Resources’s dividend payout ratio is currently 58.40%.

Insider Activity at Whitecap Resources

In other news, Director Grant Bradley Fagerheim sold 20,000 shares of the company’s stock in a transaction 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. Company 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.