Investment Analysts’ Recent Ratings Changes for Whitecap Resources (WCP)

Several brokerages have updated their recommendations and price targets on shares of Whitecap Resources (TSE: WCP) in the last few weeks:

• 4/25/2024 – Whitecap Resources had its price target raised by analysts at Royal Bank of Canada from C$13.00 to C$14.00. They now have an “outperform” rating on the stock.
• 4/25/2024 – Whitecap Resources had its price target raised by analysts at Canaccord Genuity Group Inc. from C$14.00 to C$14.50. They now have a “buy” rating on the stock.
• 4/25/2024 – Whitecap Resources had its price target raised by analysts at BMO Capital Markets from C$13.00 to C$14.00.
• 4/23/2024 – Whitecap Resources had its price target raised by analysts at Stifel Nicolaus from C$12.75 to C$13.75. They now have a “buy” rating on the stock.
• 4/22/2024 – Whitecap Resources had its price target raised by analysts at CIBC from C$14.00 to C$15.00. They now have an “outperform” rating on the stock.
• 4/17/2024 – Whitecap Resources had its price target raised by analysts at Canaccord Genuity Group Inc. from C$12.50 to C$14.00. They now have a “buy” rating on the stock.
• 3/21/2024 – Whitecap Resources was given a new C$13.00 price target on by analysts at BMO Capital Markets. They now have an “outperform” rating on the stock.

Whitecap Resources Stock Performance

Shares of WCP traded down C$0.31 during midday trading on Tuesday, reaching C$10.33. 1,372,536 shares of the stock were exchanged, compared to its average volume of 2,406,878. The business’s 50-day moving average price is C$10.08 and its 200 day moving average price is C$9.62. The company has a debt-to-equity ratio of 25.25, a current ratio of 0.90 and a quick ratio of 0.67. Whitecap Resources Inc. has a twelve month low of C$8.15 and a twelve month high of C$11.91. The company has a market capitalization of C$6.18 billion, a price-to-earnings ratio of 7.08, a PEG ratio of -0.33 and a beta of 2.81.

Whitecap Resources (TSE:WCP) last posted its earnings results on Wednesday, April 24th. The company reported C$0.10 EPS for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.14). Whitecap Resources had a return on equity of 16.89% and a net margin of 27.52%. The firm had revenue of C$933.30 million for the quarter, compared to analyst estimates of C$787.00 million. On average, sell-side analysts expect that Whitecap Resources Inc. will post 1.2846626 EPS for the current fiscal year.

Whitecap Resources Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.0608 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date is Monday, April 29th. Whitecap Resources’s dividend payout ratio is currently 44.52%.

Insider Buying and Selling

In related news, Director Grant Bradley Fagerheim purchased 10,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were purchased at an average price of C$10.69 per share, with a total value of C$106,900.00. In other Whitecap Resources news, Director Grant Bradley Fagerheim acquired 10,000 shares of the stock in a transaction on Monday, April 29th. The shares were bought at an average price of C$10.69 per share, with a total value of C$106,900.00. Also, Senior Officer Thanh Chan Kang acquired 2,970 shares of the stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of C$10.60 per share, for a total transaction of C$31,482.00. Insiders have purchased a total of 21,693 shares of company stock valued at $221,699 over the last quarter. 0.74% of the stock is currently owned by insiders.

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.