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

Whitecap Resources (TSE:WCP - Free Report) had its target price boosted by Scotiabank from C$12.00 to C$13.00 in a research note released on Friday morning, BayStreet.CA reports.

WCP has been the subject of several other research reports. Canaccord Genuity Group upped their price target on shares of Whitecap Resources from C$14.00 to C$14.50 and gave the stock a buy rating in a research report on Thursday, April 25th. CIBC upped their price objective on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the company an outperform rating in a research note on Monday, April 22nd. Stifel Nicolaus upped their price objective on shares of Whitecap Resources from C$12.75 to C$13.75 and gave the company a buy rating in a research note on Tuesday, April 23rd. BMO Capital Markets upped their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 in a research note on Thursday, April 25th. Finally, Royal Bank of Canada upped their price objective on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the company an outperform rating in a research note on Thursday, April 25th. 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of C$13.61.

Whitecap Resources Price Performance

Shares of WCP traded down C$0.03 during mid-day trading on Friday, hitting C$10.24. 1,367,065 shares of the company were exchanged, compared to its average volume of 2,251,658. Whitecap Resources has a 1-year low of C$8.15 and a 1-year high of C$11.91. The company has a debt-to-equity ratio of 26.11, a quick ratio of 0.67 and a current ratio of 0.71. The company has a 50 day moving average of C$10.19 and a 200-day moving average of C$9.74. The stock has a market cap of C$6.13 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of -0.33 and a beta of 2.77.

Whitecap Resources (TSE:WCP - Get Free Report) last released its quarterly 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). Whitecap Resources had a return on equity of 12.91% and a net margin of 21.27%. The company had revenue of C$933.30 million for the quarter, compared to analyst estimates of C$787.00 million. Analysts expect that Whitecap Resources will post 1.0901468 EPS for the current fiscal year.

Whitecap Resources Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be given a dividend of $0.061 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.15%. Whitecap Resources's payout ratio is currently 64.60%.

Insider Buying and Selling

In related news, Senior Officer Thanh Chan Kang acquired 2,970 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average price of C$10.60 per share, with a total value of C$31,482.00. In related news, Director Grant Bradley Fagerheim bought 10,000 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of C$10.08 per share, with a total value of C$100,800.00. Also, Senior Officer Thanh Chan Kang bought 2,970 shares of the company's stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average cost of C$10.60 per share, for a total transaction of C$31,482.00. In the last quarter, insiders purchased 52,970 shares of company stock valued at $542,582. Company insiders own 0.82% 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.