Whitecap Resources (TSE:WCP) Price Target Raised to C$24.00

Whitecap Resources (TSE:WCP) had its price objective upped by Desjardins from C$23.00 to C$24.00 in a report issued on Tuesday,BayStreet reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. TD lifted their target price on shares of Whitecap Resources from C$18.00 to C$21.00 and gave the company a “buy” rating in a research note on Friday, September 11th. National Bank Financial raised their price target on Whitecap Resources from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$19.77.

Whitecap Resources Stock Performance

TSE:WCP opened at C$20.25 on Tuesday. The firm has a market cap of C$24.62 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of -0.33 and a beta of 0.29. The company has a debt-to-equity ratio of 24.14, a quick ratio of 0.67 and a current ratio of 0.56. The business has a 50 day moving average price of C$18.45 and a 200-day moving average price of C$16.72. Whitecap Resources has a fifty-two week low of C$10.18 and a fifty-two week high of C$20.53.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.73 earnings per share (EPS) for the quarter. The business had revenue of C$2.35 billion for the quarter. Whitecap Resources had a net margin of 19.66% and a return on equity of 12.87%. Equities research analysts predict that Whitecap Resources will post 1.12 earnings per share for the current year.

Whitecap Resources Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were given a dividend of $0.0608 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.73 annualized dividend and a dividend yield of 3.6%. Whitecap Resources’s dividend payout ratio is presently 65.14%.

About Whitecap Resources

Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.