Whitecap Resources (TSE:WCP) PT Lowered to C$14.50

Whitecap Resources (TSE:WCP - Free Report) had its target price trimmed by ATB Capital from C$15.00 to C$14.50 in a research report released on Thursday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on WCP. Scotiabank upped their price target on Whitecap Resources from C$12.00 to C$13.00 in a research report on Friday, July 12th. Desjardins upped their price objective on shares of Whitecap Resources from C$12.75 to C$13.00 and gave the company a "buy" rating in a report on Thursday. Raymond James upgraded shares of Whitecap Resources to a "hold" rating in a research note on Thursday, October 17th. Canaccord Genuity Group dropped their price target on shares of Whitecap Resources from C$14.50 to C$14.00 in a research note on Tuesday. Finally, Royal Bank of Canada upgraded shares of Whitecap Resources to a "moderate buy" rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$13.61.

Whitecap Resources Stock Performance

Shares of TSE:WCP traded up C$0.13 during midday trading on Thursday, reaching C$10.54. The company had a trading volume of 2,026,296 shares, compared to its average volume of 2,303,546. The stock has a market cap of C$6.32 billion, a P/E ratio of 8.39, a P/E/G ratio of -0.33 and a beta of 2.67. The company's 50 day moving average price is C$10.35 and its 200 day moving average price is C$10.28. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 23.55. Whitecap Resources has a 52-week low of C$8.15 and a 52-week high of C$11.31.

Whitecap Resources (TSE:WCP - Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported C$0.41 earnings per share for the quarter, beating analysts' consensus estimates of C$0.29 by C$0.12. Whitecap Resources had a net margin of 22.43% and a return on equity of 13.89%. The firm had revenue of C$1.05 billion for the quarter, compared to analysts' expectations of C$946.00 million. As a group, sell-side analysts anticipate that Whitecap Resources will post 1.1226131 EPS for the current fiscal year.

Whitecap Resources Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.0608 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.73 annualized dividend and a dividend yield of 6.92%. Whitecap Resources's payout ratio is currently 58.40%.

Insider Activity at Whitecap Resources

In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$10.22, for a total value of C$204,400.00. 0.84% 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.