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 report sent to investors on Thursday, Zacks.com reports.

A number of other equities analysts also recently issued reports on WCP. Jefferies Financial Group reduced their price target on Whitecap Resources from C$12.00 to C$11.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Scotiabank upped their target price on Whitecap Resources from C$12.00 to C$13.00 in a research report on Friday, July 12th. National Bankshares lowered their price target on Whitecap Resources from C$15.50 to C$14.50 in a report on Friday, September 27th. Finally, Royal Bank of Canada upgraded shares of Whitecap Resources to a “moderate buy” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Whitecap Resources has a consensus rating of “Moderate Buy” and a consensus target price of C$13.57.

Whitecap Resources Price Performance

WCP opened at C$10.31 on Thursday. The firm has a market capitalization of C$6.18 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of -0.33 and a beta of 2.67. The company has a debt-to-equity ratio of 23.55, a current ratio of 0.94 and a quick ratio of 0.67. The business’s 50-day moving average is C$10.34 and its two-hundred day moving average is C$10.29. Whitecap Resources has a 1 year low of C$8.15 and a 1 year high of C$11.35.

Whitecap Resources (TSE:WCP) last issued its quarterly earnings data 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. Whitecap Resources had a net margin of 22.43% and a return on equity of 13.89%. The firm had revenue of C$1.05 billion for the quarter, compared to the consensus estimate of C$946.00 million. Research analysts anticipate that Whitecap Resources will post 1.1226131 earnings per share for the current fiscal year.

Whitecap Resources Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.0608 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.73 annualized dividend and a yield of 7.08%. Whitecap Resources’s dividend payout ratio (DPR) is presently 58.40%.

Insider Buying and Selling at Whitecap Resources

In other news, Director Grant Bradley Fagerheim sold 20,000 shares of the company’s stock in a transaction 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. Company insiders own 0.84% 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.