Whitecap Resources Inc. to Post FY2017 Earnings of $0.33 Per Share, Cormark Forecasts (WCP)
Whitecap Resources Inc. (TSE:WCP) – Equities research analysts at Cormark dropped their FY2017 earnings per share (EPS) estimates for shares of Whitecap Resources in a research note issued on Tuesday. Cormark analyst G. Ursu now anticipates that the company will post earnings per share of $0.33 for the year, down from their previous estimate of $0.34. Cormark also issued estimates for Whitecap Resources’ FY2018 earnings at $0.32 EPS and FY2019 earnings at $0.46 EPS.
Several other research analysts have also recently weighed in on the stock. TD Securities increased their price target on shares of Whitecap Resources from C$12.00 to C$13.00 and gave the company a “buy” rating in a report on Tuesday, December 5th. BMO Capital Markets increased their price target on shares of Whitecap Resources from C$12.50 to C$13.00 and gave the company an “outperform” rating in a report on Tuesday, December 5th. CIBC reissued an “outperform” rating and issued a C$12.50 price target on shares of Whitecap Resources in a report on Tuesday, December 5th. Raymond James Financial increased their price target on shares of Whitecap Resources from C$13.25 to C$14.00 and gave the company an “outperform” rating in a report on Tuesday, November 14th. Finally, Barclays increased their price target on shares of Whitecap Resources from C$10.00 to C$11.00 in a report on Thursday, November 2nd. Seven equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of C$13.10.
In other Whitecap Resources news, Director Grant Bradley Fagerheim bought 10,200 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were purchased at an average price of C$8.91 per share, for a total transaction of C$90,882.00.
The firm also recently announced a monthly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.023 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.19%. Whitecap Resources’s payout ratio is presently 34.95%.
About Whitecap Resources
Whitecap Resources Inc is a Canada-based oil-weighted growth company focused on its existing assets enhanced by oil-based acquisitions. Its assets include Boundary Lake property, which is located in northeast British Columbia; Valhalla North property, which is located in the Peace River Arch area of Alberta and is characterized by shallow declines and a production base, and Deep Basin properties, which include Karr, Simonette, Kakwa, Elmworth and Wapiti, which are located southwest of Grande Prairie, Alberta.
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