Whitecap Resources (TSE:WCP) Price Target Raised to C$14.00 at Royal Bank of Canada

Whitecap Resources (TSE:WCP) had its price target increased by Royal Bank of Canada from C$13.00 to C$14.00 in a research report report published on Thursday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. National Bankshares lowered their target price on shares of Whitecap Resources from C$18.50 to C$15.00 and set an outperform rating for the company in a research note on Wednesday, January 10th. Raymond James reduced their price target on shares of Whitecap Resources from C$15.50 to C$13.00 and set a strong-buy rating on the stock in a research report on Friday, January 19th. Desjardins increased their price target on shares of Whitecap Resources from C$11.00 to C$11.50 and gave the stock a buy rating in a research report on Friday, February 23rd. CIBC increased their price target on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock an outperform rating in a research report on Monday. Finally, BMO Capital Markets increased their price target on shares of Whitecap Resources from C$13.00 to C$14.00 in a research report on Thursday. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Whitecap Resources presently has an average rating of Buy and a consensus target price of C$13.56.

Whitecap Resources Trading Up 1.1 %

Shares of WCP stock opened at C$10.87 on Thursday. The company has a debt-to-equity ratio of 25.25, a current ratio of 0.90 and a quick ratio of 0.67. The firm has a market cap of C$6.50 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of -0.33 and a beta of 2.81. The company has a 50-day moving average of C$9.96 and a two-hundred day moving average of C$9.63. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.91.

Whitecap Resources (TSE:WCP) last announced 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 return on equity of 16.89% and a net margin of 27.52%. On average, analysts predict that Whitecap Resources will post 1.2846626 EPS for the current year.

Whitecap Resources Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.0608 per share. The ex-dividend date is Monday, April 29th. This represents a $0.73 dividend on an annualized basis and a yield of 6.71%. Whitecap Resources’s payout ratio is currently 44.52%.

Insiders Place Their Bets

In related news, Director Grant Bradley Fagerheim acquired 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were bought at an average price of C$10.58 per share, with a total value of C$52,900.00. 0.74% of the stock is owned by corporate insiders.

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.