Canaccord Genuity Group Raises Whitecap Resources (TSE:WCP) Price Target to C$14.50

Whitecap Resources (TSE:WCP) had its target price upped by Canaccord Genuity Group from C$14.00 to C$14.50 in a report issued on Thursday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the company. Stifel Nicolaus lifted their target price on Whitecap Resources from C$12.75 to C$13.75 and gave the company a buy rating in a research report on Tuesday, April 23rd. BMO Capital Markets lifted their target price on Whitecap Resources from C$13.00 to C$14.00 in a research report on Thursday. Jefferies Financial Group set a C$11.00 price objective on Whitecap Resources and gave the company a buy rating in a research report on Tuesday, February 27th. National Bankshares lowered their price objective on Whitecap Resources from C$18.50 to C$15.00 and set an outperform rating on the stock in a research report on Wednesday, January 10th. Finally, ATB Capital lowered their price objective on Whitecap Resources from C$15.50 to C$15.00 in a research report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of C$13.56.

Whitecap Resources Price Performance

TSE WCP opened at C$10.77 on Thursday. The company has a market capitalization of C$6.44 billion, a PE ratio of 7.38, a price-to-earnings-growth ratio of -0.33 and a beta of 2.81. The company has a debt-to-equity ratio of 25.25, a quick ratio of 0.67 and a current ratio of 0.90. The business’s fifty day moving average is C$10.04 and its 200 day moving average is C$9.62. Whitecap Resources has a fifty-two week low of C$8.15 and a fifty-two week high of C$11.91.

Whitecap Resources (TSE:WCP) last released its earnings results on Wednesday, April 24th. The company reported C$0.10 earnings per share for the quarter, missing the consensus estimate of C$0.24 by C($0.14). The company had revenue of C$933.30 million for the quarter, compared to analysts’ expectations of C$787.00 million. Whitecap Resources had a net margin of 27.52% and a return on equity of 16.89%. Sell-side analysts predict that Whitecap Resources will post 1.2846626 earnings per share for the current year.

Whitecap Resources Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.0608 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.73 annualized dividend and a dividend yield of 6.77%. Whitecap Resources’s dividend payout ratio (DPR) is 44.52%.

Insider Transactions at Whitecap Resources

In other news, Director Grant Bradley Fagerheim bought 3,723 shares of Whitecap Resources stock in a transaction dated Monday, February 5th. The shares were purchased at an average cost of C$8.17 per share, with a total value of C$30,416.91. Insiders own 0.74% 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.