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

Whitecap Resources (TSE:WCP) had its price objective reduced by CIBC from C$14.50 to C$13.00 in a research report released on Thursday,BayStreet.CA reports.

Several other analysts also recently commented on the company. National Bankshares dropped their price objective on Whitecap Resources from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Desjardins set a C$12.00 price target on Whitecap Resources and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Finally, Raymond James upgraded Whitecap Resources from a “market perform” rating to an “outperform” rating and set a C$13.00 price objective for the company in a research report on Tuesday, March 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Whitecap Resources currently has an average rating of “Buy” and a consensus target price of C$13.34.

Whitecap Resources Stock Up 3.4 %

Shares of TSE:WCP opened at C$7.70 on Thursday. The company has a 50 day moving average price of C$9.11 and a two-hundred day moving average price of C$9.85. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88. The company has a market capitalization of C$4.50 billion, a PE ratio of 5.19, a PEG ratio of -0.33 and a beta of 2.67. Whitecap Resources has a 52 week low of C$6.87 and a 52 week high of C$11.31.

Whitecap Resources Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were given a dividend of $0.0608 per share. This represents a $0.73 dividend on an annualized basis and a yield of 9.48%. The ex-dividend date was Friday, February 28th. Whitecap Resources’s dividend payout ratio (DPR) is currently 49.25%.

Insider Activity

In related news, Director Grant Bradley Fagerheim bought 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of C$8.42 per share, for a total transaction of C$252,600.00. Also, Senior Officer Thanh Chan Kang purchased 10,000 shares of Whitecap Resources stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost of C$8.45 per share, with a total value of C$84,500.00. Insiders have acquired 98,120 shares of company stock worth $835,336 over the last ninety days. Insiders own 0.84% 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.