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

Whitecap Resources (TSE:WCP - Free Report) had its price objective upped by CIBC from C$14.00 to C$15.00 in a research report report published on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages have also commented on WCP. ATB Capital decreased their price objective on shares of Whitecap Resources from C$15.50 to C$15.00 in a report on Thursday, February 22nd. Canaccord Genuity Group upped their target price on shares of Whitecap Resources from C$12.50 to C$14.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Raymond James cut their target price 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 note on Friday, January 19th. National Bankshares cut their target price 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, Stifel Nicolaus upped their target price 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. One 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. According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of C$13.35.

Whitecap Resources Price Performance

WCP traded down C$0.01 on Monday, reaching C$10.37. 1,553,756 shares of the company's stock were exchanged, compared to its average volume of 2,408,342. The stock has a market cap of C$6.20 billion, a PE ratio of 7.10, a P/E/G ratio of -0.33 and a beta of 2.81. Whitecap Resources has a twelve month low of C$8.15 and a twelve month high of C$11.91. The stock's fifty day moving average price is C$9.84 and its 200-day moving average price is C$9.63. 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 (TSE:WCP - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported C$0.49 earnings per share for the quarter, beating the consensus estimate of C$0.30 by C$0.19. The company 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%. Sell-side analysts expect that Whitecap Resources will post 1.2846626 EPS for the current year.

Whitecap Resources Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.0608 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 7.04%. Whitecap Resources's dividend payout ratio is presently 44.52%.

Insider Activity

In related news, Director Grant Bradley Fagerheim purchased 3,723 shares of the business's stock in a transaction dated Monday, February 5th. The stock was acquired at an average price of C$8.17 per share, for a total transaction of C$30,416.91. Insiders own 0.74% of the company's stock.

Whitecap Resources Company Profile

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.