Whitecap Resources (TSE:WCP) Price Target Raised to C$13.00 at Desjardins

Whitecap Resources (TSE:WCP) had its price objective increased by Desjardins from C$12.75 to C$13.00 in a research note released on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other analysts have also commented on WCP. 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. National Bankshares lowered their price target on Whitecap Resources from C$15.50 to C$14.50 in a research report on Friday, September 27th. Canaccord Genuity Group cut their price objective on shares of Whitecap Resources from C$14.50 to C$14.00 in a report on Tuesday, October 22nd. Raymond James upgraded shares of Whitecap Resources to a “hold” rating in a report on Thursday, October 17th. Finally, Scotiabank boosted their price target on shares of Whitecap Resources from C$12.00 to C$13.00 in a report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$13.61.

Whitecap Resources Stock Up 1.2 %

Shares of TSE WCP opened at C$10.67 on Thursday. 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 company has a 50-day moving average price of C$10.36 and a 200-day moving average price of C$10.29. The stock has a market capitalization of C$6.39 billion, a P/E ratio of 8.54, a P/E/G ratio of -0.33 and a beta of 2.67. Whitecap Resources has a 1 year low of C$8.15 and a 1 year high of C$11.31.

Whitecap Resources Cuts Dividend

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

Insider Activity

In other news, Director Grant Bradley Fagerheim sold 20,000 shares of Whitecap Resources stock in a transaction dated 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.