Whitecap Resources (TSE:WCP) had its target price reduced by CIBC from C$9.00 to C$7.50 in a research note released on Thursday morning, BayStreet.CA reports.

A number of other analysts have also commented on the stock. BMO Capital Markets reiterated a hold rating and issued a $9.50 price target on shares of Vicon Industries in a research note on Friday, June 14th. Canaccord Genuity reiterated a buy rating and issued a $7.50 price target on shares of in a research note on Tuesday, July 9th. Royal Bank of Canada reiterated a buy rating and issued a $2.50 price target on shares of in a research note on Thursday. Raymond James restated a hold rating on shares of PrairieSky Royalty in a research report on Thursday, July 11th. Finally, National Bank Financial cut their target price on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a research report on Tuesday, June 25th.

Shares of WCP stock opened at C$4.20 on Thursday. The business has a 50 day moving average of C$4.28. Whitecap Resources has a 52 week low of C$3.80 and a 52 week high of C$9.02. The company has a market capitalization of $1.74 billion and a price-to-earnings ratio of 100.00. The company has a debt-to-equity ratio of 42.76, a current ratio of 0.69 and a quick ratio of 0.69.

Whitecap Resources (TSE:WCP) last announced its quarterly earnings results on Wednesday, May 1st. The company reported C($0.13) EPS for the quarter. The firm had revenue of C$354.86 million for the quarter. Sell-side analysts forecast that Whitecap Resources will post 0.44 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 15th will be given a dividend of $0.0285 per share. This represents a $0.34 annualized dividend and a yield of 8.14%. This is a positive change from Whitecap Resources’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, July 30th. Whitecap Resources’s payout ratio is 809.52%.

In other Whitecap Resources news, Senior Officer David Michael Mombourquette bought 11,900 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average cost of C$4.20 per share, for a total transaction of C$49,980.00. Following the completion of the transaction, the insider now owns 291,900 shares of the company’s stock, valued at approximately C$1,225,980. Also, Senior Officer Thanh Chan Kang bought 5,520 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of C$5.08 per share, with a total value of C$28,041.60. Following the completion of the transaction, the insider now directly owns 502,868 shares of the company’s stock, valued at approximately C$2,554,569.44. Insiders have purchased 74,495 shares of company stock valued at $308,485 over the last 90 days.

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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