CIBC Increases Whitecap Resources (TSE:WCP) Price Target to C$15.00

Whitecap Resources (TSE:WCP) had its price objective upped by CIBC from C$14.00 to C$15.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the stock. BMO Capital Markets set a C$13.00 price objective on shares of Whitecap Resources and gave the stock an outperform rating in a research note on Thursday, March 21st. Stifel Nicolaus increased their price objective on shares of Whitecap Resources from C$12.25 to C$12.75 and gave the stock a buy rating in a research note on Thursday, February 22nd. Jefferies Financial Group set a C$11.00 price objective on shares of Whitecap Resources and gave the stock a buy rating in a research note on Tuesday, February 27th. National Bankshares lowered their price objective on shares of Whitecap Resources from C$18.50 to C$15.00 and set an outperform rating on the stock in a research note on Wednesday, January 10th. Finally, Desjardins increased their price objective on shares of Whitecap Resources from C$11.00 to C$11.50 and gave the stock a buy rating in a research note on Friday, February 23rd. 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. Based on data from MarketBeat.com, Whitecap Resources currently has a consensus rating of Buy and a consensus target price of C$13.44.

Whitecap Resources Price Performance

WCP opened at C$10.75 on Monday. 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 stock has a market capitalization of C$6.43 billion, a P/E ratio of 7.36, a P/E/G ratio of -0.33 and a beta of 2.81. The company’s 50-day simple moving average is C$9.91 and its two-hundred day simple moving average is C$9.62. Whitecap Resources has a 52-week low of C$8.15 and a 52-week high of C$11.91.

Whitecap Resources (TSE:WCP) last posted its earnings results on Wednesday, February 21st. The company reported C$0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.30 by C$0.19. The business had revenue of C$914.10 million for the quarter. Whitecap Resources had a net margin of 27.52% and a return on equity of 16.89%. As a group, analysts predict that Whitecap Resources will post 1.2846626 EPS for the current year.

Whitecap Resources Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.0608 per share. This represents a $0.73 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date is Monday, April 29th. Whitecap Resources’s payout ratio is 44.52%.

Insider Buying and Selling at Whitecap Resources

In related news, Director Grant Bradley Fagerheim acquired 3,723 shares of the business’s stock in a transaction on Monday, February 5th. The stock was acquired 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.