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

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

WCP has been the topic of a number of other research reports. National Bankshares dropped their price objective on shares of 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 shares of Whitecap Resources and gave the company a “buy” rating in a research report on Wednesday, March 19th. Finally, Raymond James upgraded shares of 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$13.34.

Whitecap Resources Stock Down 7.5 %

Shares of WCP opened at C$7.45 on Thursday. The company has a market capitalization of C$4.35 billion, a price-to-earnings ratio of 5.03, 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. The stock’s 50-day moving average price is C$9.15 and its 200-day moving average price is C$9.86. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 21.58.

Whitecap Resources Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 17th were paid a dividend of $0.0608 per share. The ex-dividend date was Friday, February 28th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 9.79%. Whitecap Resources’s dividend payout ratio is currently 49.25%.

Insider Activity at Whitecap Resources

In other Whitecap Resources news, Senior Officer Thanh Chan Kang purchased 10,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of C$8.45 per share, for a total transaction of C$84,500.00. Also, Director Grant Bradley Fagerheim acquired 30,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of C$8.42 per share, with a total value of C$252,600.00. In the last three months, insiders have purchased 98,120 shares of company stock valued at $835,336. 0.84% of the stock is owned by corporate 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.