Whitecap Resources (TSE:WCP) Given New C$14.50 Price Target at ATB Capital

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

WCP has been the subject of a number of other research reports. Raymond James upgraded Whitecap Resources to a “hold” rating in a report on Thursday, October 17th. National Bankshares reduced their price target on shares of Whitecap Resources from C$15.50 to C$14.50 in a research note on Friday, September 27th. Jefferies Financial Group dropped their target price on shares of Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Canaccord Genuity Group decreased their price target on shares of Whitecap Resources from C$14.50 to C$14.00 in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada raised Whitecap Resources to a “moderate buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Whitecap Resources has an average rating of “Moderate Buy” and an average price target of C$13.61.

Whitecap Resources Stock Up 1.2 %

Shares of TSE:WCP opened at C$10.67 on Thursday. The firm has a market capitalization of C$6.39 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The business has a 50 day simple moving average of C$10.36 and a two-hundred day simple moving average of C$10.29. Whitecap Resources has a 1 year low of C$8.15 and a 1 year high of C$11.31. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67.

Whitecap Resources Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.0608 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Thursday, October 31st. Whitecap Resources’s payout ratio is currently 58.40%.

Insider Buying and Selling

In other Whitecap Resources news, Director Grant Bradley Fagerheim sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$10.22, for a total value of C$204,400.00. 0.84% of the stock is currently owned by company insiders.

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.