Whitecap Resources (TSE:WCP) Price Target Raised to C$23.00

Whitecap Resources (TSE:WCP) had its price objective raised by ATB Cormark Capital Markets from C$19.00 to C$23.00 in a research report released on Thursday morning,BayStreet reports. The firm currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the company. TD raised their price objective on Whitecap Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a research report on Friday, September 11th. National Bank Financial raised their price target on Whitecap Resources from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Tuesday, October 20th. Royal Bank Of Canada raised their price target on Whitecap Resources from C$20.00 to C$22.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Desjardins lifted their price target on Whitecap Resources from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$19.77.

Whitecap Resources Price Performance

Shares of TSE WCP opened at C$20.43 on Thursday. The company has a 50 day simple moving average of C$18.52 and a two-hundred day simple moving average of C$16.74. Whitecap Resources has a fifty-two week low of C$10.18 and a fifty-two week high of C$20.79. The company has a market capitalization of C$24.84 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of -0.33 and a beta of 0.29. The company has a debt-to-equity ratio of 24.14, a quick ratio of 0.67 and a current ratio of 0.56.

Whitecap Resources (TSE:WCP) last released its earnings results on Wednesday, July 29th. The company reported C$0.73 earnings per share (EPS) for the quarter. Whitecap Resources had a net margin of 19.66% and a return on equity of 12.87%. The firm had revenue of C$2.35 billion during the quarter. Analysts expect that Whitecap Resources will post 1.12 EPS for the current fiscal year.

Whitecap Resources Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were given a dividend of $0.0608 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.73 annualized dividend and a dividend yield of 3.6%. Whitecap Resources’s dividend payout ratio (DPR) is 65.14%.

Whitecap Resources Company Profile

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.