BMO Capital Markets Cuts Whitecap Resources (TSE:WCP) Price Target to C$6.00

Whitecap Resources (TSE:WCP) had its price target cut by BMO Capital Markets from C$7.00 to C$6.00 in a research note released on Tuesday, BayStreet.CA reports.

Other research analysts also recently issued research reports about the company. Raymond James restated a strong-buy rating and set a C$6.50 price target on shares of Whitecap Resources in a report on Friday, August 2nd. CIBC reduced their price target on Whitecap Resources from C$9.00 to C$7.50 in a report on Thursday, July 18th. Laurentian reduced their price target on Whitecap Resources from C$9.50 to C$8.75 in a report on Tuesday. National Bank Financial reduced their price target on Whitecap Resources from C$9.50 to C$7.50 and set an outperform rating on the stock in a report on Tuesday, June 25th. Finally, Canaccord Genuity reduced their price target on Whitecap Resources from C$8.00 to C$7.50 in a report on Tuesday, July 9th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of C$8.52.

Shares of TSE:WCP opened at C$3.67 on Tuesday. Whitecap Resources has a 1 year low of C$3.41 and a 1 year high of C$8.37. The company has a market cap of $1.48 billion and a PE ratio of 19.32. The company has a debt-to-equity ratio of 39.79, a current ratio of 0.84 and a quick ratio of 0.81. The stock’s 50-day moving average is C$3.97 and its 200 day moving average is C$4.57.

The company also recently announced a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.0285 per share. This is an increase from Whitecap Resources’s previous monthly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 9.32%. Whitecap Resources’s dividend payout ratio is 178.95%.

In other news, Senior Officer Thanh Chan Kang bought 50,000 shares of Whitecap Resources stock in a transaction on Monday, June 17th. The shares were purchased at an average price of C$4.00 per share, for a total transaction of C$200,000.00. Following the acquisition, the insider now owns 555,728 shares of the company’s stock, valued at C$2,222,912. Also, Senior Officer David Michael Mombourquette bought 11,900 shares of Whitecap Resources stock in a transaction on Thursday, June 13th. The shares were purchased at an average price of C$4.20 per share, for a total transaction of C$49,980.00. Following the acquisition, the insider now directly owns 291,900 shares in the company, valued at approximately C$1,225,980. Insiders have acquired a total of 108,975 shares of company stock worth $419,742 in the last quarter.

Whitecap Resources Company Profile

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan. Whitecap Resources Inc is headquartered in Calgary, Canada.

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Analyst Recommendations for Whitecap Resources (TSE:WCP)

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