Whitecap Resources (TSE:WCP) Upgraded to Hold at Raymond James

Raymond James upgraded shares of Whitecap Resources (TSE:WCP) to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

Several other brokerages also recently commented on WCP. Scotiabank upped their target price on shares of Whitecap Resources from C$12.00 to C$13.00 in a research note on Friday, July 12th. Royal Bank of Canada raised shares of Whitecap Resources to a “moderate buy” rating in a report on Friday, July 26th. Jefferies Financial Group dropped their price objective on 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. Finally, National Bankshares decreased their target price on Whitecap Resources from C$15.50 to C$14.50 in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$13.57.

Whitecap Resources Stock Down 1.9 %

TSE:WCP opened at C$10.31 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 23.55. Whitecap Resources has a 12-month low of C$8.15 and a 12-month high of C$11.35. The stock’s fifty day simple moving average is C$10.34 and its 200-day simple moving average is C$10.29. The firm has a market capitalization of C$6.18 billion, a P/E ratio of 8.25, a P/E/G ratio of -0.33 and a beta of 2.67.

Whitecap Resources (TSE:WCP) last issued its earnings results on Wednesday, July 24th. The company reported C$0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.29 by C$0.12. The firm had revenue of C$1.05 billion for the quarter, compared to analysts’ expectations of C$946.00 million. Whitecap Resources had a return on equity of 13.89% and a net margin of 22.43%. Equities research analysts expect that Whitecap Resources will post 1.1226131 earnings per share for the current year.

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 dividend of $0.0608 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.73 annualized dividend and a dividend yield of 7.08%. Whitecap Resources’s dividend 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 that occurred on Monday, August 12th. The stock was sold at an average price of C$10.22, for a total transaction of C$204,400.00. 0.84% of the stock is owned by 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.